According to a JPMorgan Chase (JPM) research report released Friday, Bitcoin miners experienced another strong month in July, reaching their highest profitability since the last halving event. In July, Bitcoin miners earned an average of $57,400 per exabyte (EH/s) in daily 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.

Ten of the thirteen publicly traded U.S. 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%. (CoinDesk)