Report: Bitcoin mining profits in February exceeded those in January, with prices rising faster than hash rate growth

ChainCatcher news, according to CoinDesk, based on the latest research report from investment bank Jefferies, the profitability of Bitcoin (BTC) mining increased in February due to a 15% rise in Bitcoin prices, while the network's hash rate grew at a relatively slow pace of 9%. Although the network's hash rate has nearly doubled since a year ago, the market share of publicly traded mining companies has declined.

The report noted that North American listed mining companies reduced their share of Bitcoin production from 19% of the network total last month to 17.5%, with new hash rate coming from other sources. Jefferies also adjusted its price targets for Marathon Digital and Argo Blockchain, reflecting the impact of rising Bitcoin prices and corporate strategy adjustments.