The Bitcoin (BTC) The profitability of mining hit the highest level in July since dividing: JPMorgan
Bitcoin
Miners were satisfied with another strong month in July, with the profitability of the highest level since the last division event, the Wall Street Bank JPMorgan (Jpm) said in a research report Friday.
“Bitcoin miners earned an average of $ 57,400 per eh/s in the day -to -day reward in July, up to 4% from June, representing the highest level since dividing,” analysts Reginald Smith and Charles Pearce wrote.
However, “the daily income and gross profit per eh/s is still 43% and 50% below pre-halving levels, respectively,” the authors wrote.
The Bitcoin halving is a quadrennial event where the reward for mining new blocks is divided. The latest stop was in April 2024, reducing the reward from 6.25 to 3.125 BTC per block.
The monthly average network Hashratea proxy for competition in industrial poverty and mining, rise 4% to 899 exahashes per second (Eh/s) In July, after a denial in June in response to warmer temperatures, the analysts wrote.
Mining difficulty was 9% higher by the end of last month, and 48% higher than before the last division of the event, the report said.
Ten of the thirteen US miners listed in the US that the bank monitored the outperformed Bitcoin in July.
In terms of stock performance, argo blockchain (ARBK) outperformed with a 66% gain, while the main scientific (Corz) Underperformed the group with a 21% decline, the report added.
Read more: Bitcoin Network’s hashrate refused in June as miners reacted to recent heatwave: JPMorgan
