The profitability of Bitcoin mines (BTC) increased by 5.3% in June, supported by an increase of 1.2% in the price of cryptocurrency and a 6.7% drop in the hashrate of the network, according to a report by the Jefferies Investment Bank.
The hashrate refers to the total combined calculation power used to exploit and treat transactions on a blockchain of evidence of work, and is an indirect indicator of competition in the industry and mining difficulties. It is measured in exams per second (EH / S).
The stimulation of profitability came while extreme summer heat in the United States has increased energy prices, which prompted minors that are less effective in accelerating operations.
Until now, in July, Bitcoin has exceeded $ 123,000, to set a new high level of all time motivated by increasingly favorable regulation of cryptography and a weakening of the US dollar following comments related to the price of President Donald Trump. The macro and regulatory backdrop has intensified the interests of investors and provided a new back wind to mining companies, according to the report.
Despite the improvement in profitability, North American public minors have dropped for a month for Bitcoin production, analysts Jonathan Petersen and Jan Aygul wrote.
In June, they extracted a total of 3,382 BTC, against 3,754 in May. They represented 25.1% of the global network, against 26.3% the previous month, noted the report.
Mara (Mara) led out with 713 BTC mined, followed by Cleanspark with 685 tokens.
Mara also maintained her advance in an energized hashrate, displaying 57.4 eh / s at the end of June, slightly down compared to 58.3 eh / s of May. CLSK held the second highest hashrate at 45.3 EH / S, the bank said.
Bitcoin Mining Economics improved last month. A hypothetical mining fleet 1 eh / s would have generated $ 57,000 in daily income in June, against $ 54,000 in May, added the report.
Find out more: Bitcoin Network Hashrate refused in June while minors reacted to the recent heat wave: JPMorgan
