JPMorgan: Bitcoin Miner Profit Hit New High Since July Halving

BlockBeats News, August 1st, according to a CoinDesk report, Wall Street investment bank JPMorgan Chase released a research report on Friday stating that Bitcoin miners saw another strong performance in July, with mining profitability reaching its highest level since the most recent Bitcoin halving.

The report pointed out: "In July, Bitcoin miners on average generated block rewards of $57,400 per day per EH/s, a 4% increase from June and the highest level since the halving." However, the report also noted: "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."

Bitcoin's block reward halving event occurs every four years. The most recent one occurred in April 2024, reducing the reward per block from 6.25 BTC to 3.125 BTC.