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Rhodesi
@rhodesi
JPMorgan Chase (JPM) said in a research report on Tuesday that Bitcoin mining profitability has fallen to a historic low. Analysts Reginald Smith and Charles Pearce wrote: "We estimate that Bitcoin miners' daily block reward revenue averaged $43,600 per EH/s in August, the lowest point on record." In comparison, the peak in November 2021 was $342,000, when the BTC price was $60,000 and the network computing power was 161 EH/s.
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