September wasn’t great for Bitcoin miners. Even though the network’s security is getting stronger (more miners are joining in), their profits took a hit.
Here’s the breakdown:
- Less money for miners: The amount of Bitcoin miners earned per unit of computing power dropped by 2.6% compared to August.
- More miners: The network’s hashrate (total computing power) increased by 1.7%, meaning more miners are competing for rewards.
- North American miners are on the rise: They’re taking a bigger share of Bitcoin production, partly because of better weather conditions.
Marathon Digital and CleanSpark are leading the pack in terms of Bitcoin mined, and Marathon has the most computing power. While Chinese mining pools still dominate, US-based pools are catching up fast.
October might be even tougher for miners. Bitcoin’s price hasn’t risen much, but the hashrate has jumped significantly, making it harder for miners to make a profit.
The Bitcoin halving in April also hurt miners’ earnings. It cut their rewards in half, and analysts say this could cost the industry over $10 billion in annual revenue.
The future of Bitcoin mining is uncertain. Some experts believe that a Republican victory in the US election could boost Bitcoin’s price, while others want to see a clearer stance from the Democratic candidate.
One thing’s for sure: The Bitcoin mining landscape is constantly changing, and it will be interesting to see how things unfold in the coming months. 
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