Bitcoin mining profitability is stuck at record lows, JPMorgan said in a new research report. “We estimate bitcoin miners earned an average of $43,600 per EH/s in daily block reward revenue in August, the lowest point on record,” the analysts wrote. That compares with a peak value of $342,000 in November 2021, when the BTC price was $60,000 and the network hashrate was 161 EH/s. The network hashrate, a proxy for competition in the industry and mining difficulty, increased for the second straight month in August, JPMorgan noted. “The network hashrate averaged 631 EH/s in August, up 16 EH/s from last month, and about 20 EH/s below prehalving levels,” the authors wrote.
Related posts
-
Switzerland’s Fourth-Biggest Bank ZKB Offers Retail Customers Bitcoin and Ether
“When it comes to cryptocurrencies, Zürcher Kantonalbank takes on the critical function of securely storing the... -
Polygon Productions, The World’s Most Immersive 360° Live Sound Experience Set to Debut at AFTER 2049, Singapore’s Biggest Pre-Formula 1 Grand Prix Party – Press release Bitcoin News
Polygon Productions, The World’s Most Immersive 360°... -
Bitcoin Price (BTC) Declines 2.4% While Ether Price (ETH) Drops 2.1%
Please note that our privacy policy, terms of use, cookies, and do not sell my personal...