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.
You may also like
Sony (SONY.US) to miss the 2027 CES after dissolving joint venture with Honda (HMC.US), shifts focus to entertainment content
Sony Group (SONY.US) will not participate in the 2027 International Consumer Electronics Show (CES), ending its decades-long history of attending this major electronics event in Las Vegas. Instead, the company will shift its focus more towards its entertainment content business.
Intervention risk rises again! After signals from Japan and the US, Japan's top foreign exchange official warns: the market should take this seriously
Jun Azumi stated on Monday that the market should take seriously the "very clear" message about the yen issued last week by Tokyo and Washington. His remarks signal his readiness to take action to curb excessive depreciation of the yen.
Barrick Mining (B.US) reaches collective agreement with Mali gold miners' union, strike threat lifted
Barrick Mining has reached an agreement with the Mali Gold Miners Union, alleviating the threat of a strike.
Crypto prices
More
