Financial Insights That Matter
Bitcoin (BTC) mining profitability fell 7.4% in March, investment bank Jefferies said in a research report Friday.
The drop was due to a 11.2% decline in the average bitcoin price and a 9.1% drop in transaction fees, the report said.
U.S.-listed miners mined 3,534 bitcoin in March versus 3,002 in February, Jefferies said, and these companies accounted for 24.8% of the total network last month, compared to 23.6% the month previous.
MARA Holdings (MARA) produced the most bitcoin in March, with 829 tokens, the report said, followed by CleanSpark (CLSK) with 706 BTC.
MARA also had the largest installed hashrate, at 54.3 exahashes per second, with CleanSpark the second-largest at 42.4 EH/s, the report added.
Looking at April, Jefferies noted bitcoin is broadly unchanged while the S&P 500 stock index is down 6%. U.S. dollar weakness may be responsible for some of that outperformance, said the bank.
Read more: U.S.-Listed Bitcoin Miners Shed 25% of Their Market Cap in March: JPMorgan
#1a73e8;">Boost Your Financial Knowledge and Achieve Stability
Discover a growing online community dedicated to delivering financial news, tips, and strategies designed to help you manage money effectively, save smarter, and grow your investments with confidence.
#1a73e8;">Top Financial Tips for Saving and Investing
- Personal Finance Management: Master the art of budgeting, expense tracking, and building a strong financial foundation.
- Investment Opportunities: Stay updated on market trends, learn about stocks, and explore secure ways to grow your wealth.
- Expert Money-Saving Advice: Access proven techniques to reduce expenses and maximize your financial potential.