Bitcoin Mining Profitability Report from JPMorgan Analysts Highlights Hasrate Decline

Tuesday, 1 October 2024, 11:25

Bitcoin mining profitability has seen a significant decline for three consecutive months, as noted by JPMorgan analysts in their latest report. This trend has raised concerns within the cryptocurrency community, particularly regarding the current hashrate dynamics. With financial pressures mounting, miners face tough decisions ahead.
Coindesk
Bitcoin Mining Profitability Report from JPMorgan Analysts Highlights Hasrate Decline

Bitcoin Mining Profitability Decline Explained

According to JPMorgan analysts, bitcoin mining profitability fell for the third month in a row in September 2023. The daily block reward gross profit reached the lowest figure recorded recently, raising alarms among miners. The decline in hashrate has been a key factor contributing to this trend.

Impact of Hasrate on Mining Profitability

  • Bitcoin mining operations are becoming less viable financially.
  • Falling hashrate indicates increased competition and operational challenges.
  • Miners may reconsider their energy consumption strategies.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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