Bitcoin mining profitability experienced a 6.6% decrease in April, according to a Jefferies research report released on Tuesday. This decline was primarily driven by a 6.7% increase in the network hashrate.
U.S. publicly listed mining companies collectively produced 3,277 Bitcoin in April, a decrease from the 3,534 coins mined in March. These firms accounted for 24.1% of the total network last month, compared to 24.8% the previous month.
MARA Holdings (MARA) led in Bitcoin production with 705 tokens, followed by CleanSpark (CLSK) with 633 BTC. MARA's installed hashrate remained the highest at 57.3 exahashes per second (EH/s), while CleanSpark held the second position with 42.4 EH/s. IREN (IREN) recorded the highest implied uptime at approximately 97%, closely followed by HIVE Digital Technologies (HIVE) at around 96%.
This article is based on our author's analysis of materials taken from the following source: Jefferies research report.