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Bitcoin Miners Strike Gold: May Profits Surge 20% as Jefferies Confirms Bull Run
Bitcoin Miners Strike Gold: May Profits Surge 20% as Jefferies Confirms Bull Run
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Bitcoin miners just hit the jackpot—profits rocketed nearly 20% in May, according to investment bank Jefferies. The surge comes as the network’s hash rate stabilizes and transaction fees spike, padding wallets despite Wall Street’s usual skepticism.
Why the sudden windfall? A perfect storm of institutional demand and meme coin mania pushed fees higher, while energy costs dipped—miners’ two biggest variables. ‘Efficiency wins again,’ quipped one analyst, as lean operations outperformed bloated legacy finance players.
But don’t break out the champagne yet. The same report warns volatility could claw back gains by Q3. One hedge fund manager put it bluntly: ‘Crypto giveth, and macro taketh away.’
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