JPMorgan: Bitcoin mining profits reached the highest level since the halving last month

ChainCatcher news, according to CoinDesk, a research report released by JPMorgan Chase (JPM) on Friday shows that Bitcoin miners experienced strong performance in July, with profit levels reaching the highest point since the last halving event.

In July, Bitcoin miners' daily revenue from block rewards averaged $57,400 per EH/s, a 4% increase from June, marking the highest level since the halving; however, daily revenue and gross profit per EH/s are still 43% and 50% lower than pre-halving levels, respectively.

The monthly average network hash rate increased by 4% in July to 899 EH/s, after declining in June due to rising temperatures. At the end of last month, mining difficulty increased by 9%, which is 48% higher than before the last halving event.

Among the thirteen U.S. listed miners tracked by the bank, ten outperformed Bitcoin in July. In terms of stock performance, Argo Blockchain (ARBK) excelled, rising 66%, while Core Scientific (CORZ) performed poorly, falling 21%.