TechFlow reported on August 16, citing CoinDesk, that JPMorgan's report indicated bitcoin mining profits have dropped to an all-time low due to rising network hash rate during the first two weeks of August. U.S.-listed miners' share of the Bitcoin network's hashrate has risen for the fourth consecutive month, reaching a record high of 26%. Nevertheless, market capitalization of U.S. listed mining companies has declined by 18% since late July, amid profit reversals related to artificial intelligence. The current hashrate stands at 621 EH/s, still below pre-halving levels, and mining profitability is about 30% lower compared to December last year. Bitcoin’s price has fallen approximately 5% since the halving, but remains up 35% year-to-date.
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