[JPMorgan Chase: Bitcoin mining profitability fell for the third consecutive month in September]
The report shows that average daily mining revenue and gross profit fell for the third consecutive month in September, while network computing power increased by 2%. Bitcoin’s average daily mining revenue decreased by 6%, with block reward revenue per EH/s of $42,100, and gross profit falling to $16,100 per EH/s, with a gross profit margin of 38.4%, the lowest level in recent times.
JP Morgan reports that transaction fees are sluggish and do not exceed 5% of block rewards. The market capitalization of 14 U.S.-listed mining companies rose 4% to $21 billion. Among them, Hut 8 grew 21%, while CleanSpark fell 13%.
Additionally, Bitcoin’s annualized volatility fell to 44% in September, down from 62% in August.
