Bitcoin
Mining’s profitability rose 2%in July, when the price of the world’s largest cryptocurrency rose 7%, while the Hash Rate network ran 5%, Investment Bank Jefferies said in a research report on Friday.
“We see positive BTC -prismomentum as most favorable for Galaxy’s (Glxy) Digital Assets Business, while miners are fighting for an increasing network hash rate, ”wrote analyst 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 3,622 Bitcoin in July against 3,379 coins the month before, the report said, and these companies accounted for 26% of the total network compared to 25% in June.
IREN (Iren) extracted the most bitcoin with 728 tokens, followed by Mara Holdings (Mara) With 703 BTC, the bank noticed.
Jefferies said Mara’s energetic hash rate remains the largest of the sector, at 58.9 EH/SI end of July, with Cleanspark (CLSK) Other with 50 eh/s.
Revenue per Exahash/second also rose. “A hypothetical an EH/S fleet of BTC mine workers would have generated ~ $ 57K/day in revenue during July, vs ~ $ 56k/day in June and ~ $ 50 ka years ago,” the analyst wrote.
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