Bitcoin Mining Profitability Declines Despite Stable Prices

According to PANews, research from investment bank Jefferies indicates that Bitcoin mining profitability decreased in September, despite relatively stable Bitcoin prices. The network's hash rate increased by approximately 1.7%, leading to a 2.6% drop in average daily revenue per Exahash. The report suggests that October could be even more challenging for miners. Although Bitcoin prices rose by about 5%, the network's hash rate grew by 11%, further compressing earnings. The report also highlights that North American publicly listed mining companies increased their share of total mining from 19.9% in August to 22.2% in September. Marathon Digital mined the most Bitcoin, producing 705 BTC, followed by CleanSpark (CLSK), which mined 493 BTC.