Hashrate

Bitcoin BTC$106,546.31 mining profitability fell in April as the network hashrate rose, investment bank Jefferies said in a research report Tuesday. “BTC mining profitability decreased by 6.6% in April, driven by a 6.7% increase in the network …

Mining economics came under pressure as the network hashrate rose while the bitcoin price fell, the report said.

These companies grew their share of the Bitcoin network to about 29% in January from around 20% a year ago, the report said.

Bitcoin’s hashrate increased by approximately 50% in 2024, and it is currently on course to rise for the eighth consecutive time.