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Bitcoin miners' earnings in July hit a new high after the Halving, a Morgan Stanley report analyzes the industry's current situation.
[Chain News] On August 1, news from JPMorgan's research report released on Friday shows that Bitcoin miners had a strong performance in July, with profit levels reaching the highest point since the last Halving event. In July, the daily income obtained by Bitcoin miners through Block Rewards averaged $57,400 per EH/s, a rise of 4% compared to June, marking the highest level since the Halving; however, daily income and gross profit per EH/s are still 43% and 50% lower than pre-Halving levels, respectively. The monthly average network hashrate rose by 4% in July to 899 EH/s after a decline in June due to increased temperatures. At the end of last month, Mining Difficulty increased by 9%, which is a 48% increase compared to the level before the last Halving event.
Among the thirteen publicly listed miners tracked by the bank, ten performed better than Bitcoin in July. In terms of stock performance, Argo Blockchain excelled with a rise of 66%, while Core Scientific performed poorly with a drop of 21%.