Bitcoin Mining Profitability Fell in August, Jefferies Says

Core Insights - Bitcoin mining profitability decreased by 5% in August due to an increase in network hashrate, according to Jefferies [1] - A hypothetical mining fleet of 1 EH/s generated approximately $55,000 per day in revenue in August, down from $58,000 in July and up from $44,000 a year ago [1] Industry Overview - The hashrate, a measure of total computational power for mining and processing transactions, serves as an indicator of competition and mining difficulty in the industry, measured in exahashes per second (EH/s) [2] - U.S.-listed mining companies mined 3,573 bitcoins in August, a slight decrease from 3,598 in July, maintaining a 26% share of the Bitcoin network [2] Company Performance - MARA Holdings (MARA) led the group in bitcoin mining with 705,703 tokens, followed by IREN [3] - MARA holds the largest energized hashrate at 59.4 EH/s, with CleanSpark (CLSK) in second place at 50 EH/s [3]