Crypto Mining Companies Face Revenue Decline For Third Consecutive Month

According to Odaily, publicly traded crypto mining companies have experienced a revenue decline for the third consecutive month, compounded by increasing network difficulty. A report from JPMorgan indicates that Bitcoin's network hash rate has seen monthly increases throughout the second quarter, reaching 643 EH/s in September, a 2% rise from August. However, miners' revenue per EH/s dropped by 6% month-over-month, averaging $42,100. Despite Bitcoin's market value rising by approximately 7% in September, recovering most of August's losses, the total market capitalization of the 14 U.S.-listed Bitcoin miners tracked by JPMorgan increased by 4% in September, reaching $21 billion.