2024

Bitcoin

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According to a JPMorgan report, Bitcoin mining profitability has declined for the third straight month, reaching recent lows in September 2024. Daily block reward gross profit fell by 6% compared to August, amounting to $16,100 per EH/s. 
Bitcoin's network <a href="https://ultramining.com/news/en/impending-bitcoin-halving-may-trigger-major-hashrate-decline-say-experts/">hashrate</a> increased by 2% in September to 643 EH/s, intensifying competition among miners. The increase in mining difficulty and low transaction fees have led to decreased revenues for <a href="https://ultramining.com/news/en/blockstream-aims-for-bitcoin-profit-with-mining-rig-investment-ahead-of-2024-halving/">mining companies</a>. 
Shares of 14 U.S.-listed miners rose by 4% in September, but overall profitability remains under pressure. Experts predict that the downward trend may continue unless <a href="https://ultramining.com/news/en/impending-bitcoin-halving-may-trigger-major-hashrate-decline-say-experts/">Bitcoin's price</a> begins to rise.

Bitcoin Mining Profitability Falls for Third Straight Month, Reaching Lows in September 2024

Ultramining_Eng

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