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JPMorgan: Bitcoin Mining Profits Reach Highest Level Since Halving Last Month
Summary: According to CoinDesk, a research report released by JPMorgan on Friday revealed that Bitcoin miners had a strong performance in July, reaching their highest profit levels since the last halving event. In July, miners earned an average of $57,400 per EH/s per day through block rewards, a 4% increase from June and the highest level ...
According to CoinDesk, a research report released by JPMorgan on Friday revealed that Bitcoin miners had a strong performance in July, reaching their highest profit levels since the last halving event. In July, miners earned an average of $57,400 per EH/s per day through block rewards, a 4% increase from June and the highest level since the halving. However, daily income and gross profit per EH/s were still 43% and 50% lower than pre-halving levels. The average network hash rate in July rose by 4% to 899 EH/s after a decrease in June due to rising temperatures. Mining difficulty increased by 9% at the end of last month, a 48% increase from before the last halving event. Among the thirteen US-listed mining companies tracked by the bank, ten had better performances than Bitcoin in July. Argo Blockchain (ARBK) showed a strong stock performance, rising by 66%, while Core Scientific (CORZ) performed poorly, falling by 21%.
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Link: JPMorgan: Bitcoin Mining Profits Reach Highest Level Since Halving Last Month [Copy]
