U.S. Bitcoin Miners Represent 25 Percent of Worldwide Network, Says Jefferies
A recent report from Jefferies highlights that U.S.-listed Bitcoin miners accounted for 25 percent of the global Bitcoin network in December 2024. Mining profitability surged last month as the Bitcoin price rally outpaced an increase in the network hashrate. This rise in productivity demonstrates the resilience and significance of U.S. miners within the cryptocurrency market. As conditions evolve, these miners play a crucial role in determining Bitcoin’s market direction. Investors should closely monitor these dynamics as they could heavily impact Bitcoin’s future profitability and market growth.
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