Bitcoin (BTC) Miners enjoyed another strong month in July, with the highest level profitability since the last halving event, Wall Street Bank JPMorgan (JPM) said in a research report Friday.
“Bitcoin mine workers earned an average of $ 57,400 per EH/SI daily revenue in the block in July, which is a 4% increase from June, representing the highest level since halving,” wrote analysts Reginald Smith and Charles Pearce.
Still, “daily revenue and gross profit per EH/S are still 43% and 50% below the level before halving,” wrote the authors.
The Bitcoin half is a square event where the reward for mining of new blocks is halved. The last halving was in April 2024, reducing the reward from 6.25 to 3,125 BTC per year. Block.
The monthly average network of hash rate, a power of attorney for competition in the industry and mining, increased 4% to 899 exahashes per year. Second (EH/S) in July, after a fall in June in response to warmer temperatures, the analysts wrote.
Mining was 9% higher at the end of last month and 48% higher than before the last halving event, the report said.
Ten of the thirteen American listed miners that the bank tracks surpassed Bitcoin in July.
With regard to stock performance, ARGO blockchain (ARBK) surpassed with a 66%gain, while core science (Corz) underpinned the group with a 21%decrease, the report added.
Read more: Bitcoin Network Hash Rate fell in June when miners responded to the recent heat wave: JPMorgan
