Jefferies: $59.5 per 1 PH/s Confirms Rising Profitability

Jefferies’ latest calculations show Bitcoin miners earned an average of $59.5 per day for each 1 PH/s in December 2024. This figure signals a noticeable increase in profitability, considering the November rate stood at $55. Analysts attribute the positive trend to steady network difficulty levels and a 4% boost in fees.

Meanwhile, the number of active rigs exceeding 90 TH/s surged by 16%. Such powerful devices help maintain profitability even amid crypto price fluctuations. A recent survey indicates that 7 out of the top 10 North American mining firms plan to expand their equipment fleets in the first quarter of the new year, aiming to capitalize on the upswing.

Jefferies points out that if current macroeconomic conditions and Bitcoin’s stable pricing persist, miner revenues could climb to $61–63 per 1 PH/s by late February. However, analysts caution about potential corrections if total hash power outpaces demand growth in the market.