Jefferies Forecasts Further Decline in Bitcoin Mining Profitability in October

Following a decrease in bitcoin mining profitability in September, investment bank Jefferies forecasts a further drop in October. Analysts point out that the combination of a stable bitcoin price, rising hashrate, and increasing network difficulty will negatively impact miners’ revenues.

Jefferies estimates that the average daily revenue per exahash could decline by another 5% in October. This comes amid an 11% increase in hashrate, adding additional pressure on mining companies.

Statistics show that last year, a similar situation led to a 12% decline in miners’ profits over the quarter. Experts advise companies to explore optimization opportunities and adopt more energy-efficient equipment.