Bitcoin
Mining profitability rose 2% in July as the world’s largest cryptocurrency price rose 7% as the network hashrate jumped 5%, bank investment said Jefferies in a research report Friday.
“We see BTC’s positive price momentum as the most desirable for Galaxy’s (Glxy) The business of digital assets, while miners fight against a rising network hashrate, “analyst Jonathan Petersen wrote.
The hashrate refers to the total computational power combined computation used in mine and process transactions in a Proof-of-work Blockchain, and a proxy for industry and mining poverty competition. It is measured in exahashes per second (Eh/s).
Mining companies listed in the US were mined 3,622 Bitcoin in July, compared to 3,379 coins last month before, the report said, and these firms cost 26% of the total network compared to 25% in June.
Iron (Iren) Mined the most —bitcoin, with 728 tokens, followed by Mara Holdings (Mara) By 703 BTC, the bank noted.
Jefferies said Mara’s energized hashrate remains the largest in the sector, at 58.9 eh/s at the end of July, with Cleanspark (CLSK) Second with 50 eh/s.
The income per exahash/second is also increased. “A hypothetical one eh/s fleet of BTC Miners will develop ~ $ 57k/day in revenue in July, compared to $ 56k/day in June and ~ $ 50ka years ago,” wrote the analyst.
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