JPMorgan: Bitcoin Miner Profits in July Reach Highest Level Since Halving

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

The report noted: "In July, Bitcoin miners earned an average daily block reward income of $57,400 per EH/s, a 4% increase from June and the highest level since the halving." However, the report also mentioned: "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 levels."

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