BITCOIN MINING PROFITABILITY TAKES A DIVE IN AUGUST

August was rough for Bitcoin miners—profits took a nosedive as BTC price slid over 4% and hashrate ramped up by 2.7%.

Jefferies is dropping the news that daily revenue per exahash tanked by 11.8% from July.

With BTC still stuck below $60K and hashrate on the rise, September could be a real grind.

On the upside, miners like Marathon Digital had better uptime thanks to cooler weather.

But U.S. miners saw their slice of new bitcoin shrink, with Marathon still topping the charts.

Source: CoinDesk