3 weeks ago
Bitcoin BTC mining profitability fell successful April arsenic the web hashrate rose, concern slope Jefferies said successful a probe study Tuesday.
"BTC mining profitability decreased by 6.6% successful April, driven by a 6.7% summation successful the web hashrate," analysts Jonathan Petersen and Jan Aygul wrote.
The hashrate refers to the full combined computational powerfulness utilized to excavation and process transactions connected a proof-of-work blockchain, and is simply a proxy for contention successful the manufacture and mining difficulty.
U.S. publically listed mining companies produced 3,277 bitcoin successful April, a driblet from the 3,534 coins that were mined successful March, the study noted, and these firms accounted for 24.1% of the full web past month, versus 24.8% successful the period previous.
MARA Holdings (MARA) mined the astir bitcoin, with 705 tokens, followed by CleanSpark (CLSK), which produced 633 BTC, Jefferies said.
MARA's installed hashrate remained the highest astatine 57.3 exahashes per 2nd (EH/s), with CleanSpark 2nd with 42.4 EH/s, the slope noted.
IREN (IREN) had the highest implied uptime astatine astir 97%, followed by HIVE Digital Technologies (HIVE) astatine astir 96%, the study added.
Read more: Bitcoin Network Hashrate Rose Slightly successful First Two Weeks of May: JPMorgan
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