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Bitcoin Mining Profitability Declines by 7% in September

Bitcoin Mining Profitability Declines by 7% in September

Coinlineup2025/10/21 01:39
By:Coinlineup
Key Points:
  • Jefferies reported a significant decline in mining profitability.
  • Network hashrate rose by 9%.
  • Marathon Digital leads in BTC production but sees reduced output.

Bitcoin mining profitability decreased by over 7% in September 2025, primarily due to a 9% increase in network hashrate and a 2% drop in Bitcoin’s price, according to Jefferies. Publicly listed North American miners, including Marathon Digital Holdings, saw reduced production.

Bitcoin mining profitability fell by over 7% in September 2025, investment bank Jefferies reports, citing increased network hashrate and a slight dip in BTC prices as primary factors.

Bitcoin mining profitability’s decline highlights the challenges miners face due to rising hashrate and price fluctuations. Immediate concerns focus on lower earnings, impacting major firms like Marathon and CleanSpark.

Bitcoin mining earnings saw notable reductions in terms of profitability, according to Jefferies. Analysts attributed the more than 7% decline in September chiefly to an increased network hashrate and decreased BTC prices. Key industry players were affected; Marathon Digital Holdings led mining production, though their output still fell compared to August. CleanSpark also encountered similar circumstances as the network hashrate climbed 9%. The increased hashrate put pressure on earnings as the mining industry experienced a shake-up. Lower revenue was felt among companies, such as Marathon and other North American miners, who faced increased costs without parallel gains. Financial markets had mixed reactions, with Jefferies adjusting price targets for entities like Galaxy Digital and Marathon. Analysts maintained a cautious outlook on sector stability, given the current revenue squeeze from rising network challenges.
“A hypothetical one EH/s fleet of BTC miners would have generated ~$55k/day in revenue during August, vs ~$58k/day in July and ~$44k a year ago.” — Jonathan Petersen, Senior Analyst, Jefferies
Future financial outcomes remain uncertain as miners continue grappling with technological demands and cost fluctuations. Historical data suggests profits can waver significantly with hashrate changes and price volatility, posing potential operational hurdles.
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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