Bitcoin Miners Hit Highest Profitability Since April Halving

Bitcoin miners experienced their highest profitability since the April 2024 halving event, with daily block reward revenue per exahash per second (EH/s) rising 4% in July to $57,400, according to JPMorgan. Despite this improvement, profitability remains significantly below pre-halving levels, with daily revenue and gross profit 43% and 50% lower, respectively, highlighting ongoing industry adjustments to the reduced block rewards. The Bitcoin network's hashrate and mining difficulty also increased in July, reflecting heightened competition and operational efficiency among miners. Meanwhile, Bitcoin's price surged to a record $123,000 in mid-July before pulling back to around $114,000, influenced by regulatory developments including President Trump's signing of the first US crypto guidelines and macroeconomic factors. The broader crypto market saw strong trading volumes and notable altcoin gains, with Ethereum outperforming Bitcoin and the DeFi sector reaching a three-year high in total value locked. Market analysts emphasize that despite short-term volatility and recent profit-taking, Bitcoin's resilience and expanded buyer base indicate its maturation as a serious financial asset.