U.S.-Listed Bitcoin Miners Represent 25.3% of Global Network in December
U.S.-listed bitcoin miners held 25.3% of the global network as of December, according to Jefferies.
Key Points:
- Jefferies reduced MARA Holdings' price target from $24 to $20 while maintaining a hold rating; shares rose 0.5% to $18.43.
- Mining profitability improved in December with a 15% increase in the average bitcoin price, compared to a 6.5% rise in network hashrate.
- Average daily revenue reached $59,585 per exahash, up 7.1% from November.
- U.S. miners produced 3,602 bitcoin in December, an increase from 3,404 in November.
- MARA led production with 890 bitcoin mined, followed by CleanSpark at 668.
- MARA maintained the largest installed hashrate at 53.2 EH/s; CleanSpark held 39.1 EH/s.