Morgan Stanley analyst: Bitcoin mining profitability drops to historic low in August

According to CoinDesk, JPMorgan analysts have pointed out that as network computing power increased in the first two weeks of August, the profitability of Bitcoin mining has fallen to its lowest point in history. Nevertheless, the network computing power share of US listed miners has risen to a new high of 26%. JPMorgan also stated that since August, the computing power of the Bitcoin network has increased by about 1%, reaching an average of 621 EH/s, but still 30 EH/s lower than before halving. In addition, the price of Bitcoin has decreased by about 5% since halving, but it has still risen by 35% since the beginning of the year, a year-on-year increase of 104%.