According to the report, the share of American miners traded on stock exchanges increased by 26%, reaching a record level.
With the network hash rate increasing by 5 exahashes per second, mining profitability has decreased significantly: current values are 30% lower than in December 2022 and 40% lower than before the last halving.
The total capitalization of the largest mining companies registered in the US has fallen by 14% since the end of July, while the value of Bitcoin has fallen by 5% from pre-halving levels.
Analysts also noted that the cost of mining equipment now exceeds the cost of the cryptocurrency itself, further highlighting the decline in mining profitability.
Source: Ferra
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