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Analysis: Bitcoin Mining Profitability Up 2% in July, US Listed Mining Firms Increase Market Share
Summary: According to CoinDesk, an investment bank report by Jefferies shows that Bitcoin mining profitability increased by 2% month-on-month in July, mainly due to a 7% rise in Bitcoin prices and a network-wide hash rate increase of only 5%. US listed mining firms produced 3622 BTC in the month, accounting for 26% of the total network, ...
According to CoinDesk, an investment bank report by Jefferies shows that Bitcoin mining profitability increased by 2% month-on-month in July, mainly due to a 7% rise in Bitcoin prices and a network-wide hash rate increase of only 5%. US listed mining firms produced 3622 BTC in the month, accounting for 26% of the total network, up 1 percentage point from June.
Data shows that IREN was the top mining firm in July with 728 BTC, followed by MARA with 703 BTC. Current daily earnings per EH/s hash rate are around $57,000, a 14% increase from the same period last year. Analysts point out that the rise in Bitcoin prices benefits companies like Galaxy and other digital asset firms the most.
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Link: Analysis: Bitcoin Mining Profitability Up 2% in July, US Listed Mining Firms Increase Market Share [Copy]
