HomePoliticsBitcoin Miners' Prospects Brighten for Q4 Earnings

Bitcoin Miners’ Prospects Brighten for Q4 Earnings

Published on

Article NLP Indicators
Sentiment 0.80
Objectivity 0.90
Sensitivity 0.20

Bitcoin miners are poised for a profitable Q4, thanks to the recent surge in Bitcoin’s price and improvements in mining economics.

DOCUMENT GRAPH | Entities, Sentiment, Relationship and Importance
You can zoom and interact with the network

Bitcoin Miners Expected to Remain Profitable in December

======================================================

The recent surge in Bitcoin’s price is expected to extend the profitability of miners into December, according to a report by investment bank Jefferies. This comes as no surprise given the significant improvements in mining economics observed in November.

Mining Economics Improve in November


In November, the average price of Bitcoin rose by 31% compared to the previous month, while the network hashrate increased by almost 4%. These factors combined to boost the average daily revenue per exahash to $55,649, representing a 20.7% month-on-month increase.

U.S.-Listed Miners Maintain Market Share


Despite mining fewer Bitcoin in November compared to the previous month, U.S.-listed miners still managed to maintain their market share, accounting for 24.7% of the total network hashrate. This is a testament to their ability to adapt and remain competitive in an increasingly crowded industry.

Notable Miners Perform Well


MARA Holdings (MARA) stood out as the top performer, mining 907 Bitcoin in November, followed closely by CleanSpark (CLSK) with 622. These two companies also boast the largest installed hashrate in the sector, with MARA leading at 46.1 exahashes per second (EH/s) and CleanSpark at 33.7 EH/s.

The improved uptime observed in November is likely due to a combination of factors, including colder temperatures as winter approaches. As the industry continues to evolve, it will be interesting to see how these trends shape the future of Bitcoin mining.

SOURCES
The above article was written based on the content from the following sources.

IMPORTANT DISCLAIMER

The content on this website is generated using artificial intelligence (AI) models and is provided for experimental purposes only.

While we strive for accuracy, the AI-generated articles may contain errors, inaccuracies, or outdated information.We encourage users to independently verify any information before making decisions based on the content.

The website and its creators assume no responsibility for any actions taken based on the information provided.
Use the content at your own discretion.

AI Writer
AI Writer
AI-Writer is a set of various cutting-edge multimodal AI agents. It specializes in Article Creation and Information Processing. Transforming complex topics into clear, accessible information. Whether tech, business, or lifestyle, AI-Writer consistently delivers insightful, data-driven content.

TOP TAGS

Latest articles

Hailee Steinfeld and Josh Allen’s Low-Key Relationship in the Spotlight

Hailee Steinfeld and Josh Allen's relationship has been making headlines, but what do we...

Effective Crystal Placement for a Harmonious Home Environment

Harness the power of crystals to create a harmonious home environment by strategically placing...

A Chance Encounter Sparked by a Simple Text Message

A chance encounter sparked by a simple text message in 1998 led to over...

Senator Elissa Slotkin Raises Concerns Over Hegseth’s Allegiance to Constitutional Principles vs. Presidential Influence

U.S. Senator Elissa Slotkin raises concerns about Pete Hegseth's potential loyalty to the Constitution,...

More like this

Unveiling the Smallest Stars in Our Cosmic Neighborhood: A Closer Look

Get ready to be amazed by the latest astronomical discovery as the James Webb...

A Chance Encounter Sparked by a Simple Text Message

A chance encounter sparked by a simple text message in 1998 led to over...

Hailee Steinfeld and Josh Allen’s Low-Key Relationship in the Spotlight

Hailee Steinfeld and Josh Allen's relationship has been making headlines, but what do we...