The profitability of Bitcoin mines (BTC) dropped 7.4% in March, said in a research report from the investment bank in a research report on Friday.
The drop was due to a drop of 11.2% in the price of average bitcoin and a 9.1% drop in transaction costs, according to the report.
Minors classified by the United States extracted 3,534 bitcoin in March against 3,002 in February, said Jefferies, and these companies represented 24.8% of the total network last month, against 23.6% the previous month.
Mara Holdings (Mara) produced the most bitcoin in March, with 829 tokens, according to the report, followed by Cleanspark (CLSK) with 706 BTC.
Mara also had the largest hashrate installed, with 54.3 exams per second, with Cleans by the second largest with 42.4 eh / s, added the report.
By looking at April, Jefferies noted that Bitcoin is largely unchanged while the S&P 500 stock market index is down 6%. The weakness of the US dollar can be responsible for part of this outperformance, the bank said.
Find out more: Bitcoin launchers classified by the United States lose 25% of their market capitalization in March: JPMorgan
