September could be another difficult month for the miners as bitcoin remains under $60K and the network hashrate continues to rise, the report said. Bitcoin mining was notably less profitable in August than July, the report said. Jefferies said September could be another difficult month for the miners as bitcoin remains below $60K and the network hashrate continues to advance. Mining economics may be moving in the wrong direction but operational efficiency is improving, the bank said. Bitcoin (BTC) mining was much less profitable in August than July as the average bitcoin price fell over 4% and the average network hashrate rose about 2.7%, investment bank Jefferies said in a research report on Wednesday. Miner’s average daily revenue per exahash fell by 11.8% from the month previous as a r
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