Bitcoin Mining Profitability Increased 5.3% in June Amid Hashrate Drop

Bitcoin (BTC) mining profitability rose by 5.3% in June, driven by a 1.2% increase in BTC price and a 6.7% decrease in network hashrate. Key points include:

Hashrate measures total computational power for mining on proof-of-work blockchains.
High summer temperatures in the U.S. increased energy costs, leading less efficient miners to reduce operations.
In July, Bitcoin's price surpassed $123,000, influenced by favorable crypto regulation and a weakening U.S. dollar.
North American public miners produced 3,382 BTC in June, down from 3,754 BTC in May, representing 25.1% of the global network.
MARA led production with 713 BTC, followed by CleanSpark at 685 BTC.
MARA also had the highest energized hashrate at 57.4 EH/s, slightly down from May’s 58.3 EH/s.
A hypothetical 1 EH/s mining fleet would have generated about $57,000 in daily revenue in June, up from $54,000 in May.