JPMorgan: Bitcoin Mining Margins Hit Record Low, Mining Companies Shrink 15% in Market Capitalization

Bitcoin mining margins have fallen to an all-time low, according to a new research report from JPMorgan Chase.2024 The report, released on September 4, 2024, states that in August 2024, the average daily block reward revenue per EH/s (tens of billions of hashes) for Bitcoin miners was just $43,600, an all-time low, in stark contrast to the peak in November 2021.2025 The report also states that Bitcoin miners are now making a total of $1.5 billion per EH/s, which is the lowest in history. At that time, the Bitcoin price was $60,000, the network was at 161 EH/s, and the daily block reward revenue per EH/s was a whopping $342,000. The report also reveals that the total market capitalization of the 14 U.S.-listed mining companies tracked by JPMorgan fell 15 percent from the previous month to $20 billion. Only three miners outperformed Bitcoin. Meanwhile, Bitcoin network power rose for the second month in a row, averaging 631 EH/s in August, up 16 EH/s from the previous month and about 20 EH/s below pre-halfway levels.(The Block)