In December 2024, U.S.-listed bitcoin miners represented 25.3% of the global bitcoin mining network, according to a Jefferies report. The bank noted that mining profitability improved during the month, with the average bitcoin price increasing by 15%, outpacing a 6.5% rise in the network hashrate. Average daily revenue increased by 7.1%, reaching $59,585 per exahash. In total, U.S.-listed miners produced 3,602 bitcoins in December, up from 3,404 in November. Marathon Digital Holdings (MARA) led the production with 890 bitcoins, followed by CleanSpark (CLSK) with 668. Jefferies also adjusted its price target for MARA, reducing it from $24 to $20 while maintaining a hold rating. As of early trading on Friday, MARA shares slightly increased by 0.5% to $18.43, and retained the largest installed hashrate in the sector at 53.2 EH/s, while CleanSpark followed with 39.1 EH/s.

Source 🔗