Bitcoin mining profitability fell 7.4% in March due to a decline in Bitcoin’s price and transaction fees. U.S. miners produced 3,534 BTC, with MARA Holdings leading production. Looking into April, Bitcoin’s stability contrasts the declining S&P 500 index, with concerns over market uncertainty affecting cryptocurrency prices. Over the past three months, BTC’s price has dropped by 14.53%.
In March, Bitcoin (BTC) mining profitability decreased by 7.4%, as reported by Jefferies Financial Group (JEF). This decline was primarily driven by an 11.2% reduction in Bitcoin’s average price and a 9.1% drop in transaction fees. Notably, U.S. miners generated 3,534 BTC during March, a rise from 3,002 BTC in February.
MARA Holdings (MARA) led Bitcoin production in March, minting 829 BTC, while CleanSpark (CLSK) followed with 706 BTC. Additionally, MARA Holdings reported the highest installed hashrate at 54.3 exahashes per second, with CleanSpark trailing at 42.4 exahashes per second, according to the findings of Jefferies.
Looking ahead to April, Jefferies observed that Bitcoin’s price remained stable despite a 6% drop in the S&P 500 index. This relative price stability may stem from U.S. dollar weakness, which could be aiding Bitcoin’s performance this month. The market uncertainty due to President Trump’s tariff policies and the ongoing trade war with China has propelled investors away from risk assets, including cryptocurrencies, contributing to price declines. Currently, BTC is priced around $84,800, reflecting a 10% decrease in value year-to-date.
Most analysts on Wall Street do not provide specific ratings or price targets for Bitcoin, instead focusing on its recent performance. Over the last three months, Bitcoin’s price has declined by 14.53%, demonstrating a notable downward trend in the cryptocurrency market.
