JPMorgan: Bitcoin miner revenues decline amid hashrate increase

U.S. investment bank JPMorgan analyzed in a report that Bitcoin (BTC) miner daily revenues declined for the third consecutive month in September. The Block reported that JPMorgan analysts suggested that the hash rate increased every month in Q3 reaching 643 EH/s in September, up 2% from the previous month. On the other hand, despite the 7% increase in the BTC price in September, the average miner profit per EH/s decreased 6% from the previous month to $42,100. The total market capitalization of the 14 publicly listed BTC miners increased by 4% to $21 billion.