Bitcoin News Today: Bitcoin Miners See Highest Profitability Since Halving in July

Bitcoin miners have seen a marked improvement in profitability in July, with mining revenues reaching the highest level since the recent halving event in April 2024, according to a report from JPMorgan Chase. The bank noted that miners generated an average of $57,400 in daily block reward revenue per EH/s in July, a 4% increase from the previous month [1]. This represents a key turning point in the post-halving period, which typically causes a temporary decline in miner earnings due to the reduced block rewards from 6.25 BTC to 3.125 BTC [1].

Despite this improvement, miner profitability still remains 43% lower in daily revenue and 50% lower in gross profit per EH/s compared to the levels seen before the halving. However, the upward trend suggests that mining operations are adapting well to the new reward structure and that broader market conditions are supporting continued profitability [1].

The sustained demand for Bitcoin and relatively stable operational costs have contributed to this improvement. Although the price of Bitcoin has retreated from its peak of $123,000 on July 14 to around $114,000, it remains significantly higher than earlier in the year. This price environment has enabled miners to maintain consistent block rewards without experiencing major losses from short-term price swings [2].

On-chain activity also indicates that miners have been selling their Bitcoin holdings, especially after the July high, which may reflect a general trend of profit-taking. Yet, the fact that mining profitability is reaching a post-halving high suggests strong fundamentals in the mining sector. This resilience is likely due to enhanced operational efficiency and a more mature market structure that supports long-term profitability [1].

While Bitcoin experienced a price correction in late July, miner profitability was not immediately impacted, demonstrating the distinction between price volatility and the underlying mining economics. JPMorgan’s analysis suggests that the industry is adapting to the new reward model and is well-positioned to remain profitable as long as the price of Bitcoin stays above key support levels [1].

The increased interest from institutional investors has also helped stabilize Bitcoin’s price, which could provide further support to miner revenues in the near term. However, any further price declines could challenge the profitability of smaller or less efficient mining operations, potentially leading to further industry consolidation [1].

Source:

[1] Bitcoin Mining Profitability Last Month Hit Highest Level Since the Halving: JPMorgan, CoinDesk, https://www.coindesk.com/markets/2025/08/01/bitcoin-mining-profitability-last-month-hit-highest-level-since-the-halving-jpmorgan

[2] Bitcoin (BTC) Price Drops 1.3% as All Assets Decline, CoinDesk, https://www.coindesk.com/coindesk-indices/2025/08/01/coindesk-20-performance-update-bitcoin-btc-price-drops-1-3-as-all-assets-decline