Bitcoin Hash Rate Rises in September as Mining Profits Hit Three-Month Low: JPMorgan Report

On October 1, COINOTAG news reported that according to a recent research paper released by JPMorgan Chase (JPM) on Tuesday, there was a modest increase in both Bitcoin (BTC) prices and network hash rates during September. However, it was noted that both daily mining revenue and gross profits experienced a decline for the third month in a row. The data indicated a 2% increase in the hash rate, which rose from August to 643 EH/s, marking the third consecutive month of growth. Despite this rise, JPMorgan Chase reported that the gross profit per daily block reward dropped by 6% compared to the previous month, reaching $16,100 per EH/s, which corresponds to a gross profit margin of 38.4%. This figure represents the lowest point for block reward gross profits observed in recent periods.