JPMorgan: Bitcoin mining profitability in September declined for the third consecutive month

ChainCatcher news, according to CoinDesk, JPMorgan Chase (JPM) stated in a research report on Tuesday that Bitcoin (BTC) prices and network hash rates saw a slight increase in September, while daily mining revenue and gross profit declined for the third consecutive month.

Data shows that the hash rate has increased for the third consecutive month, rising by 2% from August to reach 643 EH/s. JPMorgan estimates that the daily block reward gross profit in September decreased by 6% month-over-month to $16,100 per EH/s (gross margin of 38.4%), marking the lowest point in recent times.