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JPMorgan: Bitcoin Network's Average Monthly Hashrate Drops by About 3% in June, Possibly Due to Miners Adjusting Operations Amid Heatwave Impact
Summary: According to reports, JPMorgan Chase revealed on Tuesday that the average monthly hashrate of the Bitcoin network dropped by about 3% in June, mainly due to miners scaling back operations amid recent heatwaves. However, Bitcoin mining profitability continues to improve, with miners earning an average daily block reward income of $55,300 per EH/s last month, ...
According to reports, JPMorgan Chase revealed on Tuesday that the average monthly hashrate of the Bitcoin network dropped by about 3% in June, mainly due to miners scaling back operations amid recent heatwaves. However, Bitcoin mining profitability continues to improve, with miners earning an average daily block reward income of $55,300 per EH/s last month, a 7% increase from April. Daily block reward gross profit also increased by 13% month-on-month, reaching a new high since January. The report also stated that the total market value of 13 US-listed Bitcoin mining companies tracked by the bank increased by 23% compared to the previous month, reaching around $5.3 billion. (CoinDesk)
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Link: JPMorgan: Bitcoin Network's Average Monthly Hashrate Drops by About 3% in June, Possibly Due to Miners Adjusting Operations Amid Heatwave Impact [Copy]
