Bitcoin mining profitability declined in August due to a drop in the average Bitcoin price and an increase in network hashrate, according to a report by Jefferies. The average daily revenue per exahash for miners fell by 11.8% compared to July. The report warned that September may bring further challenges as Bitcoin's price remains below $60,000 and the network hashrate continues to rise. However, operational efficiency improved for miners due to fewer extreme heat days. US-listed mining companies also contributed a lower share of new bitcoin to the total network in August.



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