According to experts from the American bank JPMorgan, the average income of miners of the first cryptocurrency fell to $43,600 per EH/s.

Analysts noted that the difficulty of Bitcoin mining has increased by 9%. Three years ago, mining was more profitable and brought companies $342,000 for each EH/s. At the same time, Bitcoin was trading above $60,000, and the hash rate was 161 EH/s.

“The average network hashrate was 631 EH/s in August, up 16 EH/s from last month and about 20 EH/s below pre-halving levels. Mining profitability fell to record lows,” the report said.

According to experts, the total market capitalization of 14 public mining companies whose shares are traded on US exchanges has fallen by 15% in a month and now stands at $20 billion.

There was a brief spike in transaction fees last month, and the top cryptocurrency’s annual volatility increased to 62% in August from 45% in July, the analysts added.

Earlier, JPMorgan experts said that the high volatility of the digital asset market did not scare off institutional investors.