U.S. Bitcoin Miners Represent 25% of Global Network in December, Says Jefferies
Crypto/Finance

U.S. Bitcoin Miners Represent 25% of Global Network in December, Says Jefferies

A report from Jefferies highlights the significant share of U.S.-listed bitcoin miners in the global mining landscape as profitability rises.

Important Insights:

  • U.S.-listed bitcoin miners made up 25.3% of the global mining network in December.
  • Jefferies adjusted its price target for MARA Holdings to $20 from $24 while keeping its hold rating on shares.
  • Mining profitability increased substantially last month due to a 15% rise in the average bitcoin price, surpassing a 6.5% rise in network hashrate.

Key Metrics:

  • Average daily revenue per exahash reached $59,585, showing a 7.1% increase from November.
  • In December, U.S.-listed mining entities produced 3,602 bitcoins, up from 3,404 in the previous month. MARA led the production with 890 bitcoins, followed by CleanSpark with 668.
  • Among U.S. mining companies, MARA holds the highest hashrate at 53.2 EH/s.

For further details, you can read about the Bitcoin Mining Profitability Rise in December.

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