Bitcoin miners' revenue in September experienced a decline for the third consecutive month

According to ChainCatcher news, reported by The Block, in September, the overall revenue of listed cryptocurrency mining companies experienced a decline for the third consecutive month, while the network difficulty increased, making the situation even more challenging.

According to a report by JPMorgan, the Bitcoin network's hash rate increased monthly in the second quarter, reaching 643 EH/s in September, a 2% increase from August. Meanwhile, miners' revenue per EH/s decreased by 6% month-on-month, averaging $42,100.

Despite the fact that Bitcoin's value increased by about 7% in September in terms of market capitalization, recovering most of the losses from August, the total market capitalization of 14 U.S.-listed Bitcoin miners tracked by JPMorgan rose by 4% in September, reaching $21 billion.