Bitcoin Mining: The Comedy of Errors in April! 😂💰

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What to know:

  • Mining profitability took a nosedive in April, just like my last date! According to Jefferies, the network hashrate decided to flex its muscles.
  • U.S.-listed miners were so busy mining less bitcoin last month that they forgot to check their calendars. March called, it wants its coins back!
  • MARA Holdings is the big cheese, mining the most bitcoin and boasting the highest installed hashrate. Talk about a power move! 💪

So, here’s the scoop: Bitcoin mining profitability fell faster than a lead balloon in April, as the network hashrate rose like a bad soufflé, according to our pals at Jefferies. 📉

“BTC mining profitability took a 6.6% hit in April, thanks to a 6.7% increase in the network hashrate,” analysts Jonathan Petersen and Jan Aygul wrote, probably while sipping their overpriced lattes.

The hashrate is like the total brainpower of miners trying to outsmart each other on a proof-of-work blockchain. It’s a real nail-biter, folks! 🧠💻

U.S. publicly listed mining companies managed to produce 3,277 bitcoin in April, which is a drop from the 3,534 coins mined in March. These firms accounted for 24.1% of the total network last month, down from 24.8%. Someone call the miners’ union! 📞

MARA Holdings (MARA) was the top dog, mining 705 tokens, while CleanSpark (CLSK) followed closely with 633 BTC. It’s like a race, but with fewer horses and more electricity! ⚡

MARA’s installed hashrate is still the king of the hill at 57.3 exahashes per second (EH/s), while CleanSpark is in second place with 42.4 EH/s. It’s a real nail-biter, folks! 🏆

IREN (IREN) had the highest implied uptime at around 97%, followed by HIVE Digital Technologies (HIVE) at about 96%. They must have some serious coffee to keep those machines running! ☕

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2025-05-21 17:00