TechFlow reported on October 8, citing The Block, that publicly listed cryptocurrency mining companies saw their overall revenue decline for the third consecutive month in September, while network difficulty increased, worsening conditions. According to a JPMorgan report, Bitcoin network hash rate rose monthly during Q2, reaching 643 EH/s in September, up 2% from August. Meanwhile, miner revenue per EH/s dropped 6% month-on-month, averaging $42,100.
Although Bitcoin’s value increased approximately 7% in September—recovering most of its August losses—the combined market capitalization of the 14 U.S. publicly traded Bitcoin miners tracked by JPMorgan rose 4% in September to $21 billion.
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