According to a report by CoinDesk, a research report released by JPMorgan Chase (JPM) on Monday shows that in the first two weeks of March 2025, the hashrate of the Bitcoin network increased by 2 EH/s, reaching an average of 811 EH/s.
According to the report, US-listed miners maintained a roughly 30% share of the network's hashrate. Meanwhile, the average price of bitcoin fell by about 10% during the period, putting pressure on the mining economy. Hashrate prices, a measure of daily mining profitability, remained largely unchanged from the end of last month. In the first two weeks of March, miners' daily block reward income per EH/s was around $48,300, down 11% from February and 52% from April last year after the halving event.
The total market capitalization of the 14 US-listed mining companies tracked by JPMorgan fell 13% from the previous month to about $3 billion. Argo Blockchain (ARGO) was the best performer, up 1%, while Cipher Mining was the worst performer, down 25%. The report added that only one of the mining companies covered by the bank outperformed Bitcoin during the same period.
JP Morgan Chase: Bitcoin network hashrate rose slightly in March, mining economics declined
2025-03-17 15:01:49
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