Bitcoin Mining Profitability Slumped In September – What’s In Store For October?

Quick Summary:

According to a recent report by Jefferies, Bitcoin (BTC) mining profitability declined in September while the network hashrate continued to surge.  Bitcoin Mining Profitability On A Downtrend In a report published on Sunday, investment bank Jefferies outlined that Bitcoin mining profitability plummeted in September compared to August.

In April 2024, Bitcoin underwent its fourth halving that effectively slashed mining rewards by half, from 6.250 BTC to 3.125 BTC.

Among the Bitcoin mining firms, Marathon Digital mined 705 BTC, followed by CleanSpark, which mined 403 BTC.

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Article Details

Author / Journalist: Ash Tiwari

Category: Crypto

Markets: HungaryChina

Topics: Hashrate Bitcoin Blockchain Cryptocurrency Bitcoin Mining Bitcoin Network Network difficulty Bitcoin hashrate Btc Bitcoin mining BTCUSDT

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-15 @ 08:00:27 (14 hours ago)

News Timezone: GMT +8:00

News Source URL: bitcoinist.com

Language: English

Article Length: 460 words

Reading Time: 3 minutes read

Sentences: 52 lines

Sentence Length: 9 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bitcoinist

News ID: 23072139

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About Bitcoinist

Main Topics: Crypto

Official Website: bitcoinist.com

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Year Established: 2014

Headquarters: Hungary

News Last Updated: 9 hours ago

Coverage Areas: Hungary

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Publisher ID: #105

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