Bitcoin Mining Profitability Up 2% in July Amid 7% BTC Price Surge
July saw Bitcoin mining profitability rise 2% as the BTC price jumped 7%, boosting reward values despite a 5% climb in network hashrate. U.S.-listed miners increased their share of network hashrate to 26% from 25%, with IREN leading production at 728 BTC mined and Marathon Digital (MARA) close behind at 703 BTC.
By month-end, Marathon’s energized hashrate reached 58.9 EH/s and CleanSpark hit 50 EH/s. A one EH/s fleet generated about $57,000 daily—up from $56,000 in June and $50,000 a year earlier—underlining how improved Bitcoin mining profitability boosts miner revenue per EH/s.
Jefferies analyst Jonathan Petersen highlights that stronger BTC price momentum benefits large operators like Galaxy Digital’s digital assets unit, supports investment in hardware and energy infrastructure, and may curb miner sell-offs. Together, these factors reinforce network security, decentralization and point to a bullish mining outlook.
Bullish
The 7% rise in BTC price drove a 2% increase in Bitcoin mining profitability despite a 5% hashrate climb, expanding miner margins and daily revenue per EH/s. Leading miners like IREN and Marathon Digital boosted their production share, and larger operations stand to benefit most, reducing sell-off pressure and encouraging hardware and energy investments. These dynamics strengthen network security and decentralization, creating positive momentum for both short-term trading and long-term infrastructure growth in the mining sector.