A recent report by Jefferies revealed that Bitcoin mining profitability decreased in September despite a surge in network hashrate. Jefferies highlighted a 2.6% month-over-month drop in daily revenue per exahash, indicating a decline in mining profitability. The network hashrate, however, increased by 1.7%, showcasing a rise in computational power dedicated to securing the network. North America-based mining firms saw an uptick in BTC production share, attributed to improved uptime due to cooler temperatures. Marathon Digital and CleanSpark were among the top mining firms in September. While Chinese mining pools still dominate BTC hashrate, US-based pools are gaining ground. Jefferies predicts a challenging October for the mining sector, following Bitcoin's fourth halving in April 2024. The report also suggests potential positive industry policies post the US presidential elections, with differing opinions on the impact of each candidate on BTC price. Read more AI-generated news on: https://app.chaingpt.org/news

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