Jefferies: Bitcoin mining profitability dropped by over 7% in September

ChainCatcher news, according to CoinDesk, investment bank Jefferies stated in a report released on Sunday that as the price of bitcoin fell by 2% and the network’s hashrate surged by about 9%, bitcoin mining profitability dropped by more than 7%, further increasing the pressure on miners’ profits expected in Q4 2025.

In the same month, North American publicly listed mining companies produced 3,401 bitcoins, down from 3,576 in August, with their share of the global network declining from 26% to 25%. Among them, MARA Holdings had the highest output at 736 bitcoins, up from 705 in August; CleanSpark followed with 629 bitcoins, down from 657 in August. The price drop also reduced revenue: theoretically, a mining fleet with 1 EH/s of hashrate generated daily revenue of about $52,000 in September, down from $56,000 in August, and close to $43,000 a year ago. The price decline and rising network difficulty continue to squeeze profit margins in the mining industry.