JPMorgan Chase: Bitcoin mining profitability rose for the second consecutive month in December
According to a report by JPMorgan cited by CoinDesk, the profitability of Bitcoin (BTC) miners rose for the second consecutive month in December 2024, reaching its highest level since April 2024. Despite this, miners' daily income and gross margin are still 43% and 52% lower than before the halving.
JPMorgan estimates that in December, miners' average daily block reward income was $57,100 per EH/s, up 10% from November. The growth of Bitcoin's computing power slowed down, increasing by 6% to an average of 779 EH/s in December and growing by 54% throughout the year which is less than the increase of 103% in 2023. In addition, the total market value of the fourteen listed mining companies tracked by JPMorgan fell by23 % to $28 billion in December. Among them TeraWulf (WULF) stood out with an annual increase of136%, surpassing Bitcoin's approximately120 % rise.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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