JPMorgan: Bitcoin Mining Revenues and Profits Have Fallen for Four Straight Months

Bitcoin (BTC) daily mining revenues and gross profits reportedly fell for the fourth consecutive month in October, JPMorgan Chase (JPM) said in a research note on Friday.

JPM estimates that gross profits from Bitcoin's daily block rewards fell 2% in October, reaching the lowest level ‘since recent records began’. On the positive side, transaction fees spiked to 60 per cent of block rewards at the end of the month, providing some relief to hash prices.