Bitcoin mining profitability in December has risen for the second consecutive month

In December 2024, Bitcoin (BTC) miners' profitability has risen for the second consecutive month, reaching the highest level since April 2024. Nevertheless, miners' daily income and gross margin remain below pre-halving levels by 43% and 52%, respectively. JPMorgan estimates that the average daily block reward income for miners in December was $57,100 per EH/s, a 10% increase from November. The growth in Bitcoin hash rate has slowed, increasing by 6% in December to an average of 779 EH/s, with a yearly growth of 54%, down from 103% in 2023. Additionally, the total market value of the 14 publicly listed mining companies tracked by JPMorgan decreased by 23% in December to $28 billion, with TeraWulf (WULF) standing out, having increased by 136% over the year, surpassing Bitcoin's approximately 120% increase.