13 US List Bitcoin Total Hash Rates
BTC$107,661.84
Miners tracked by JPMorgan (JPM) currently account for around 31.5% of the global network, the highest level on record, the bank said in its investigation report on Monday.
These miners have added 11 exahashes to their capacity (Eh/s) since April, led by CleanSpark (CLSK), Hive Technologies (Hive) and Riot Platforms (Riot).
Hashrate refers to the total computing power used to mine and process transactions on the Proof of Work Blockchain, a proxy for competition and mining difficulties in the industry. Miners’ cohesive hashrates is up 99% year-on-year, compared to an increase of 55%Y/Y in network hashrates.
The network hashrate averaged to 890 EH/s to about 10 EH/s in the first two weeks of June. This is a development that the bank has described as “somewhat surprising.” Still, that remains more than 50% from the previous year.
Hash prices, a measure of daily mining profitability, have fallen 2% since the end of May, the report says.
The 13 companies’ market capitalization rose 10% or $2.4 billion in the first two weeks of the month, the bank said.
Riot outperformed the group with a 20% profit, but BitFarms (BITFU) has not fallen 9%, the report added.
read more: Bitcoin Miner had one of the best quarters on record, JPMorgan says