🚀🚀Despite Bitcoin Miners Saying "Oh", Rising Expectations Were Shattered! 🚀🚀

According to Jefferies, while Bitcoin mining increased its profitability in June, companies diversified their revenues by turning to artificial intelligence and cloud computing.

According to a research report published by investment bank Jefferies, Bitcoin mining became more profitable in June compared to May, as the price increased slightly and the hash rate decreased.

Jefferies analyst Jonathan Petersen said in his statement on the subject, "June was a period of modest recovery, especially seen immediately after the halving in May."

Lowered His Targets

Jefferies lowered its target price for Marathon Digital (MARA) to $22 from $24 and lowered its target price for Argo Blockchain ADRs (ARBK) to $1.2 from $1.5. The report also stated that in June, mining companies listed in the US constituted 20.8% of the total network, increasing their share from 19.1% in May, and producing more Bitcoin as the network hash rate decreased with new capacities.

Marathon mined 590 Bitcoins in June, down 4% from May. CleanSpark (CLSK) increased by 7% by mining 445 BTC.

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