JPMorgan: Bitcoin Miner Profits in July Reach Highest Level Since Halving
BlockBeats News, August 1—According to a report by CoinDesk, Wall Street investment bank JPMorgan released a research report on Friday stating that Bitcoin miners saw another strong month in July, with mining profitability reaching its highest level since the most recent Bitcoin halving.
The report noted: "In July, Bitcoin miners earned an average daily block reward income of $57,400 per EH/s, a 4% increase from June and the highest level since the halving." However, the report also mentioned: "Despite the strong performance in July, daily revenue and gross profit per EH/s are still 43% and 50% lower, respectively, compared to pre-halving levels."
The Bitcoin block reward halving event occurs every four years. The most recent halving took place in April 2024, reducing the reward per block from 6.25 BTC to 3.125 BTC.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Mortgage rates return to 7%, pending home sales in the US fall to nearly a twelve-year low
According to Freddie Mac data, the 30-year fixed mortgage rate has risen to 7.4%, the highest level in nearly three years. Data from real estate brokerage Redfin shows that the volume of existing home pending sales in September fell 4% month-on-month, marking the largest single-month drop in over three years and hitting the lowest level since 2014. Nearly one-fifth of sellers have reduced prices, and the home purchase contract cancellation rate has reached a record high of 14.5%. Inventory levels have risen to the highest since March 2020, but high financing costs continue to constrain transactions.
Mueller Water Products names Michael Morgan CFO, succeeding Melissa Rasmussen
GLD ETF Falls 0.6%
JPMorgan’s tokenized funds on Ethereum hold $844 million
Crypto prices
More
