Bitcoin Mining Profitability Fall 7% to $52K as Hashrate Climb
Jefferies yan report say Bitcoin mining profitability drop 5% for August to $55,000 per EH/s, come down from $58,000 for July but e still higher than $44,000 wey e be one year ago. For September, the Bitcoin mining profitability fall another 7% to $52,000 per EH/s as BTC price drop by 2% and network hashrate climb by 9% wey make miners margins tight. Miners wey de for USA listed produce 3,573 BTC for August and 3,401 BTC for September, Marathon Digital (MARA) lead production make 736 BTC and CleanSpark (CLSK) deliver 629 BTC last month. As mining difficulty and network hashrate dey rise, e dey put pressure on miner stocks; but year-on-year profitability still dey strong. Jefferies raise price targets for Galaxy Digital (GLXY) go $45 and MARA go $19, still dey recommend make dem buy. Traders suppose dey watch mining revenue trends cos e fit affect BTC supply matter and how miner stocks go perform.
Bearish
Di constant decline for Bitcoin mining profit, wey dey happen because network hash rate dey increase and BTC prices dey drop, show say miners dey face tighter margins and fit dey sell more BTC to cover their costs, wey dey weigh down price for short term. Lower daily revenue per EH/s dey reduce miner incentives, fit trigger more supply when demand tight. For longer term, difficulty adjustments and profit wey steady above last year levels fit help stabilize margins, but near term market sentiment go likely remain cautious, making overall impact bearish.