Bitcoin miners counted millions in July, their most profitable month since the Halving of 2024
By Hannah Pérez
The profitability of Bitcoin miners increased to USD $ 1.66 billion in July, its highest point in the post-halving era. The profits occurred while Bitcoin hashrate unlocked the level of Zettahas.
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- The profitability of Bitcoin miners increased to USD $ 1.66 billion in July.
- It is the largest monthly income observed by the miners since the last Halving of Bitcoin.
- Meanwhile, Bitcoin hashrate unlock the level of 1 Zettahas for the first time.
- Bitcoin rose 8% price in July after breaking a historical maximum of USD $ 123,000.
The miners of Bitcoin They counted billions of dollars in July, extending a solid revenue streak and marking a new profitability record in the post-halving era.
The monthly income of the miners of Bitcoin arose to USD $ 1.66 billion in July, reaching its highest level since May 2024, Just before the programmed reduction event in the middle of the network.
The data provided by The Block They show that most of the income was the product of the mining subsidy, with only USD $ 16.3 million of the total corresponding to transaction commissions. The figure reflects a 19.4% increase in tickets in relation to the previous month, when the miners collected USD $ 1.39 billion, according to the data.
Mining profitability increased 4% in July
A recent report from JPMorganwhich was collected by the news agency COINDESK On Friday, he highlighted the significant rebound in profitability, highlighting that it is the highest level from the halving.
The miners of Bitcoin They generated an average of USD $ 57,400 per exahasho per second (EH/s) in daily income from block rewards during July, “4% more than in June, which represents the highest level from halving“Bank analysts, Reginald Smith and Charles Pearce wrote, according to coverage.
He halving of Bitcoin It is a scheduled event that occurs approximately every four years, in which the reward for undermining a new block is reduced by 50%. This mechanism is designed to control the emission of new Bitcoinsensuring that the total supply of cryptocurrency does not exceed 21 million. Latest halving It took place in April 2024, when the block reward went from 6.25 BTC to 3.125 BTC, increasing the pressure on miners to operate more efficiently.
Hashrate reaches historical levels
The increase reflects the resilience of the mining industry despite the structural challenges imposed by the reduction of rewards. However, they are still below the levels prior to halving. In May 2024, they capitalized record for just over USD $ 2 billion, as shown by data from The Block.
The analysts of JPMorgan They said that daily income and gross benefit for EH/s also remain significantly below, with a decrease of 43% and 50%, respectively, from the reduction event. This reflects the lasting impact of halving on rewards, which forces miners to optimize their operations to maintain profitability.
Meanwhile, the Hashrate of the network Bitcoin –an indicator that measures the total computational power dedicated to mining of Bitcoin–, For the first time a height of 1 Zettahasos per second (ZH/s) during July, according to data from Bitinfocharts. (A Zettahash equals 10^21 hashes per second, or a thousand exahas).
The report of JPMorgan indicated a 4% increase in the Hashrate During July, after located on average in the 899 EH/s. The increase in this indicator reflects greater competition in the sector. In addition, the difficulty of mining, which adjusts the complexity of the necessary calculations to validate a block, grew 9% at the end of July compared to June, and 48% higher than before the halving.
Public miners performance
The Wall Street bank, which is based on the data of the thirteen Bitcoin mining companies that are quoted in the US stock market for their report, added that ten of the public miners exceeded Bitcoin’s price performance in July.
Among the prominent, Argo Blockchain (Arbk) recorded an impressive gain of 66% in the value of their actions, while Core Scientific (Corz) had a weaker performance, with a 21%drop. This contrast highlights the differences in operational efficiency and financial strategies between the actors in the sector.
Perspectives for Bitcoin mining
It is possible that the price of 8% of Bitcoin During the month it has contributed to a higher income flow for the miners. BTC broke a historical price of USD $ 123,000 on July 14.
The rebound in the profitability of Julio offers temporary relief for the miners, but the income and margins are still far from those achieved before the halving. The growing difficulty and Hashrate They suggest that the competition will continue to intensify, which could press even more efficient operators. However, the solid performance of several traded mining companies indicates that those with access to advanced resources and technology are well positioned to adapt to this challenging environment.
The mining of Bitcoin It continues to be a fundamental pillar of the network, and its evolution reflects both the technological and economic dynamics of the leading cryptocurrency. As the industry prepares for future challenges, the ability of miners to innovate and optimize will be key to maintaining profitability in an increasingly competitive panorama. A growing number of public miners has chosen to accumulate BTC in its treasury in the midst of a broader trend of companies in search of benefits.
BTC changes hands around USD $ 115,500 at the time of publication of this article, according to data from Coingcko.
Article written with the help of AI, edited by Hannah Pérez / Diariobitcoin
Image generated with artificial intelligence, under a free use license
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