ChainCatcher reported that according to CoinDesk, investment bank Jefferies said in a research report on Monday that Bitcoin mining business was more profitable in June than in May due to a 2% increase in Bitcoin prices, a 5% decrease in network mining difficulty, and the market's adjustment to the impact of halving.

Analyst Jonathan Petersen wrote: "From the most obvious direct impact of halving in May, June was a month of mild recovery (in mining profits)."