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

A JPMorgan Chase (JPM) research report released on Friday indicated that Bitcoin miners experienced another strong month 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, respectively, than pre-halving levels. After declining in June due to rising temperatures, the average monthly network hash rate rose 4% in July to 899 EH/s. Mining difficulty increased by 9% at the end of last month, a 48% increase from before the last halving event.