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

PANews reported on August 1st that, according to CoinDesk, a JPMorgan Chase (JPM) research report released Friday indicated that Bitcoin miners experienced another strong performance in July, with profitability reaching its highest point since the last halving event. In July, Bitcoin miners earned an average of $57,400 per exahash (EH/s) per day from block rewards, a 4% increase from June and the highest level since the halving. However, daily revenue and gross profit per EH/s remained 43% and 50% lower than pre-halving levels, respectively. The average monthly network hash rate rose 4% in July to 899 EH/s, after declining in June due to rising temperatures. Mining difficulty increased by 9% at the end of last month, a 48% increase from before the last halving event. Ten of the thirteen publicly listed US mining companies tracked by the bank outperformed Bitcoin in July. In terms of stock performance, Argo Blockchain (ARBK) outperformed, rising 66%, while Core Scientific (CORZ) underperformed, falling 21%.