Bitcoin Mining Profitability Surges: Unpacking JPMorgan’s July Report

Key Points

1. July's average daily revenue for Bitcoin miners was $57,400 per EH/s, a 4% increase from June and the highest since the April 2024 halving.

2. Despite the surge, profitability remains 43% lower than pre-halving levels due to reduced block rewards.

3. 10 out of 13 U.S.-listed Bitcoin mining companies tracked by JPMorgan outperformed Bitcoin itself in July.

4. Key strategies for miners include prioritizing energy efficiency, understanding market dynamics, and joining mining pools for stable profitability.

5. Post-halving challenges include reduced block rewards, operational costs, and the need for scalable infrastructure.