Bitcoin Mining mining mining fell 5% last month primarily because an increase in the Hash Rate network, investment bank Jefferies said in a research report on Sunday.
“A hypothetical an EH/S fleet of BTC mine workers would have generated ~ $ 55K/day in revenue during August, vs ~ $ 58K/day in July and ~ $ 44 ka years ago,” Analysts wrote by Jonathan Petersen.
Hashrate refers to the overall combined calculation strength used to mine and treat transactions on a proof-of-work blockchain, and is a power of attorney for competition in the industry and mining difficulties. It is measured in the exahashes per second (Eh/s).
US-listed mining companies extracted 3,573 Bitcoin in August against 3,598 in July, the report noted, and these miners accounted for 26% of the Bitcoin network last month, unchanged from July.
Mara Holdings (Mara) extracted the group’s most bitcoin with 705,703 tokens, followed by IREN (Iren)Said Jefferies.
Mara’s Energized Hash Rate is still the largest of the group, at 59.4 EH/S, with Cleanspark (CLSK) Other with 50 EH/S, the report added.
Read more: Bitcoin Network Hash Rate returned to all -time heights in August: JPMorgan
