buy
Mining Profitability Improves Despite Drop in Bitcoin Production, MARA Leads
According to Jefferies, mining profitability increased by 5.3% in June despite a 6.7% decrease in hash rate and a 1.2% rise in Bitcoin price. In July, Bitcoin reached a new high, surpassing $123,000, which boosted investor interest. However, North American publicly traded miners produced fewer bitcoins: 3,382 BTC in June compared to 3,754 BTC in May. MARA remains the top miner by both production, with 713 BTC, and hash rate capacity of 57.4 EH/s. Based on this, I estimate that 1 EH/s generates approximately $57,000 per day.
Source available for registered users Sign Up Free
AI Analysis
The data presented from Jefferies highlight a complex landscape for Bitcoin mining. Despite a 6.7% decline in hash rate in June, profitability increased by 5.3%, suggesting that miners managed to extr...
AI Recommendation
For investors, the current scenario indicates a potentially attractive opportunity in large-cap mining companies like MARA, given their high hash rate and production capacity amid rising Bitcoin price...
Disclaimer
The AI analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.
You might also be interested in:
buy
don't buy
sell