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JPMorgan Chase: Bitcoin mining profit margin hits record low, mining companies' market value shrinks by 15%
2024-09-04 08:38
Odaily News According to the latest research report from JPMorgan Chase, Bitcoin mining profit margins have fallen to an all-time low. The report released on September 4, 2024 pointed out that in August 2024, Bitcoin miners' average daily block reward income per EH/s (exascale hashes) was only $43,600, a record low, in sharp contrast to the peak in November 2021. At that time, the price of Bitcoin was $60,000, the network computing power was 161 EH/s, and the daily block reward income per EH/s was as high as $342,000. The report also revealed that the total market value of the 14 US-listed mining companies tracked by JPMorgan Chase fell 15% from the previous month to $20 billion. Only three mining companies performed better than Bitcoin. At the same time, the computing power of the Bitcoin network rose for the second consecutive month, reaching an average of 631 EH/s in August, an increase of 16 EH/s from the previous month and about 20 EH/s lower than the level before the halving. (The Block)