According to a report by JPMorgan, Bitcoin mining profitability increased in December for the second month in a row, with miners earning an average of $57,100 per exahash per second (EH/s) in daily block reward revenue, a 10% rise from November. However, these figures remain significantly lower than pre-halving levels, with daily revenue and gross profit per EH/s down 43% and 52%, respectively. The network hashrate rose to an average of 779 EH/s, with a 6% increase in December and an overall 54% growth in 2024, although this rate of growth has slowed compared to a 103% gain in 2023. Mining difficulty also saw a 7% rise, being 27% higher than before the halving event in April. The report notes that the total market capitalization of the 14 tracked publicly listed Bitcoin miners fell by 23% to $28 billion in December, despite a 52% increase in November. TeraWulf was highlighted as the only miner to outperform Bitcoin last year, achieving a 136% gain.

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