Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert & block trade
Convert crypto with one click and zero fees
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Bitcoin Mining Revenue Continues Downward Trend, Says JPMorgan

Bitcoin Mining Revenue Continues Downward Trend, Says JPMorgan

CryptodnesCryptodnes2024/10/02 09:30
By:Cryptodnes

According to a JPMorgan report, in September the average Bitcoin (BTC) price and network mining rate rose slightly, while daily mining revenue and gross profits declined for the third consecutive month.

The hashrate increased by 2% compared to August, reaching 643 exahash per second (EH/s), indicating the total computing power used for mining and transaction processing in the PoW blockchain.

JPMorgan calculated that miners received an average of $42,100 in daily revenue per EH/s in pay last month, marking a 6% decline from the previous month. Analysts Reginald Smith and Charles Pierce noted that daily gross blockchain reward revenue also fell 6% month-over-month to $16,100 per EH/s, reflecting a gross margin of 38.4%, the lowest on recent records.

Transaction fees remained low, accounting for less than 5% of blockchain remuneration. The total market capitalization of the 14 miners listed in the U.S. and monitored by the bank increased 4%, reaching $21 billion.

READ MORE:
Should China Rethink Its Strict Crypto Ban as the U.S. Embraces Digital Assets?

Hut 8 (HUT) led the group with a 21% increase, while CleanSpark (CLSK) saw the steepest decline at 13%. Additionally, Bitcoin’ s year-to-date volatility declined to 44%, down from 62% in August.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like