In a research report, investment bank Jefferies pointed out that the profits from bitcoin mining dropped significantly in August compared to the previous month. The analysis attributes this change mainly to a decline of over 4% in the average price of bitcoin and an increase of about 2.7% in the average network hash rate. Additionally, the monthly average daily income for miners decreased by 11.8% compared to the previous month. The report suggests that this trend could persist into September, as the price of bitcoin remains below $60,000 and the network hash rate continues to rise. As an indicator of industry competition and mining difficulty, the bitcoin hash rate reflects the dynamic changes in the market.