On October 1, BlockBeats highlighted a report from JPMorgan Chase indicating that Bitcoin mining profitability has declined for the third consecutive month in September. Despite a slight increase in Bitcoin (BTC) prices and network hash rates, daily mining revenue continues to fall.
The data reveals a 2% increase in hash rate from August, reaching 643 EH/s. However, JPMorgan estimates that the daily block reward gross profit decreased by 6% month-on-month, dropping to $16,100 per EH/s in September, marking a gross profit margin of 38.4%—the lowest in recent times. This trend reflects ongoing challenges within the Bitcoin mining sector amid fluctuating market conditions.
