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Jeffrey: Bitcoin mining profitability declined in September, and it is expected to remain challenging in October

Jeffrey: Bitcoin mining profitability declined in September, and it is expected to remain challenging in October

Bitget2024/10/14 09:34

Jeffries stated in a research report on Sunday that the profitability of Bitcoin mining in September has declined compared to the previous month, as the average price of Bitcoin remained basically unchanged while the network hash rate increased by about 1.7%. The investment bank pointed out that the average daily income per exahash fell by 2.6% from last month.

Analysts Jonathan Petersen and Joe Dickstein wrote: "At present, it seems that October will be a more difficult month because BTC prices have only risen by about 5%, while network hash rates have increased by +11%, enough to offset this growth."

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