Bitcoin

Mining’s profitability fell in April when the Hashrate Rose network said investment bank Jefferies in a research report on Tuesday.

“BTC mining of mining fell by 6.6% in April, driven by an increase of 6.7% in the network’s hash rate,” wrote analysts Jonathan Petersen and Jan Aygul.

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.

US listed mining companies produced 3,277 Bitcoin in April, a fall from the 3,534 coins extracted in March, the report noted, and these companies accounted for 24.1% of the total network last month against 24.8% in the previous month.

Mara Holdings (Mara) extracted the most Bitcoin with 705 tokens, followed by Cleanspark (CLSK), who produced 633 BTC, Jefferies said.

Maras installed hashrate remained the highest of 57.3 exahashes per day. Second (EH/S), with cleanspark number two with 42.4 EH/S, noticed the bank.

Iren (Iren) had the highest implied uptime of about 97%, followed by Hive Digital Technologies (HIVE) with approx. 96%, the report added.

Read more: Bitcoin Network Hash Rate rose slightly in the first two weeks of May: JPMorgan