Will Canny is a finance reporter at CoinDesk.n
Jefferies said October could be a harder month for the sector as the hashrate has risen 11%, more than offsetting the 5% increase in the bitcoin price.mining profitability fell in September from the month before, as the average price of the world's largest cryptocurrency was broadly unchanged while the network hashrate rose about 1.7%, Jefferies said in a research report Sunday.
"October is currently poised to be a harder month with BTC prices only up around 5%, while the network hashrate up +11% more than offsets that growth," analysts Jonathan Petersen and Joe Dickstein wrote. Marathon Digital mined the largest number of bitcoin, at 705 tokens, followed by CleanSpark , which mined 493, the bank said.
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