What to know:
- So, picture this – Bitcoin mining companies are now snagging about 29% of the global network hashrate. Crazy, right? Almost double what it was a year ago, like they found the cheat code or something. 🙄
- And get this: the Bitcoin network hashrate has jumped 6% this month. Clearly, everyone’s feeling pumped! 🚀
- But wait, there’s a twist – daily mining profitability has plummeted by 13% since the end of January! It’s like the stock market meets a soap opera. 📉
According to JPMorgan’s latest report (you know, not that I’m keeping track), the total hashrate of U.S.-listed Bitcoin miners has nearly doubled in a year! It’s now about 29% of the global action. Who knew miners were such overachievers, right?
Apparently, the combined hashrate of these 14 companies shot up by 95% year-over-year to 244 EH/s. Meanwhile, the network hashrate only crept up by 45%. Talk about a competitive environment! 💪
And, oh boy, the price of Bitcoin took a bit of a hit since January, squeezing those mining profits tighter than a pair of jeans after the holidays. 🍕🍔
The so-called “hashprice” – which is just fancy talk for how much money miners are raking in daily – dropped a whole 13% as the hashrate rose and Bitcoin prices tumbled down. It’s like a seesaw from hell!
JPMorgan estimates that miners are bagging around $53,600 in daily block rewards this month, which is 6% less than January. So if you’re thinking about a new Bitcoin, better check your wallet! 😬
The market cap for the mining stocks they’re keeping an eye on? Down 1% from last month. Not exactly a banner month for the miners, huh?
On a brighter note (if you can call it that), IREN was the star of the show with a 27% increase in the first two weeks of February. Meanwhile, Greenidge Generation (GREE) decided to take a nap, dropping by 20%. Maybe they need more coffee? ☕️
Oh, and in a report that really shook things up, broker Bernstein mentioned that U.S. Bitcoin mining stocks are increasing their share of the network hashrate. Surprise, surprise. It’s almost as if they’re fighting for a gold medal in the Bitcoin Olympics! 🥇
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2025-02-18 16:15