In July, bitcoin miners experienced significant profitability, with average daily block reward revenue reaching $57,400 per EH/s, which is the highest since the last halving event. JPMorgan’s report highlighted that while this performance was notable, it was still 43% and 50% below the revenue and profit levels before the last halving, respectively.

What to know:

• The network hashrate gained 4%, totaling 899 EH/s in July.
• Mining difficulty increased by 9% compared to June, suggesting a rise in competition.

In stock performance among U.S.-listed miners, Argo Blockchain led with a 66% increase, while Core Scientific saw a 21% decline. Investors are urged to pay attention to these trends as profitability fluctuates with market conditions.

Quote: “Bitcoin miners earned an average of $57,400 per EH/s in daily block reward revenue in July, up 4% from June, representing the highest level since the halving,” the analysts observed.

For more information visit CoinDesk.