JPMorgan: Bitcoin mining revenue and profits have declined for four consecutive months

ChainCatcher news, according to CoinDesk, JPMorgan Chase (JPM) stated in a research report on Friday that Bitcoin (BTC) daily mining revenue and gross profit have declined for the fourth consecutive month in October.

JPMorgan estimates that the gross profit from Bitcoin's daily block rewards in October decreased by 2%, reaching the "lowest level on record." On the positive side, transaction fees surged to 60% of block rewards by the end of the month, providing some relief for hash prices.