PANews reported on August 16 that according to CoinDesk, a report from investment bank Jefferies pointed out that the profit margin of Bitcoin mining in July was slightly lower than that in June. Although the proportion of Bitcoin production by US-listed mining companies in July increased to 21.1%, compared with 20.7% in June, the overall profit was still affected due to the more than 6% drop in Bitcoin prices and the stability of network computing power. Jefferies lowered Marathon Digital's target share price from $22 to $17, while maintaining a "hold" rating. Marathon Digital produced 692 bitcoins in July, a month-on-month increase of 17%, and its computing power continued to lead the industry. The report also pointed out that with the further growth of network computing power, August will be more difficult for miners.