According to ChainCatcher, JPMorgan Chase's latest research report shows that Bitcoin mining profit margins have dropped to historical lows.
The report released on September 4, 2024 pointed out that in August 2024, the average block reward income of Bitcoin miners per EH/s (exa hashes) per day was only $43,600, a record low, in sharp contrast to the peak in November 2021. At that time, the Bitcoin price 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 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 Bitcoin network computing power 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.
