JPMorgan Analyst: Bitcoin mining profitability in August fell to its lowest historical level

PANews reported on August 16th, according to CoinDesk, JPMorgan analysts pointed out that as the network's computing power increased in the first two weeks of August, Bitcoin mining profitability fell to a historical low. Despite this, the share of network computing power for US-listed miners rose to 26%, setting a new record. JPMorgan also stated that since August, Bitcoin's network computing power has increased by about 1%, reaching an average of 621 EH/s, but it is still 30 EH/s lower than before halving. In addition, the price of Bitcoin has fallen by about 5% since halving but has still risen by 35% since the beginning of the year and increased by 104% compared with last year.