Investment bank Jefferies pointed out in a recent research report that the bitcoin mining profits of US listed miners declined in July. This change was mainly attributed to a more than 6% drop in bitcoin prices during the month, while the stability of the network hashrate did not significantly impact overall profits. The report further analyzed the relationship between market conditions and mining activities, revealing the impact of price fluctuations on mining profitability. In addition, the report evaluated Marathon Digital, lowering its target stock price from $22 to $17, while maintaining a hold rating for the company. Notably, Marathon Digital's stock price fell 0.7% in pre-market trading after the release of the report, to around $15.