Mining profitability fell to all time lows as the network hashrate rose in the first two weeks of August, the report said.
U.S. miners’ share of the Bitcoin network hashrate rose to a new record high of 26%, the bank said.
The bank noted that the network hashrate has risen about 1% so far this month.
Bitcoin (BTC) mining stocks gave back artificial intelligence (AI) related gains in the first two weeks of August as the network hashrate rose which pushed mining profitability to record lows, JPMorgan (JPM) said in a research report on Friday.
Hashrate refers to the total combined computational power that is used to mine and process transactions on a proof-of-work blockchain.
The total market cap of the fourteen U.S. listed miners the bank tracks fell 18% since the end of July, and “currently trade 2X their proportional share of the four-year block reward,” analysts Reginald Smith and Charles Pearce wrote.
It’s not all bad news for the sector. U.S.-listed miner’s share of the Bitcoin network hashrate rose for the fourth month in a row to 26%, a new record high, the report said.
The network hashrate rose around five exahashes per second (EH/s), a 1% gain, to an average of 621 EH/s in the first two weeks of the month, the bank said, noting that it is still 30 EH/s below the levels seen before the halving.
The hashprice, a measure of mining profitability, is still around 30% lower than the levels seen in December 2022 and about 40% below pre-halving levels, and this could slow hashrate growth in the near term, the report added.
The bank noted that the bitcoin price has dropped about 5% since the halving, but is still up 35% year-to-date and 104% year-on-year.
Read more: U.S.-Listed Bitcoin Miners’ Share of Global Hashrate Reached Record in July: JPMorgan
can you get cheap clomid prices clomiphene risks buying cheap clomiphene tablets order cheap clomiphene tablets can i purchase clomiphene without a prescription buying generic clomiphene pill how can i get generic clomiphene
Good blog you have here.. It’s hard to assign great status article like yours these days. I really recognize individuals like you! Rent guardianship!!
brand zithromax – floxin 200mg usa generic metronidazole 400mg
semaglutide uk – buy semaglutide 14mg online cheap buy cyproheptadine 4mg pill
buy generic domperidone 10mg – cyclobenzaprine us how to get flexeril without a prescription
buy propranolol generic – methotrexate pills buy generic methotrexate
buy amoxicillin sale – diovan 80mg brand combivent without prescription
clavulanate ca – atbioinfo buy acillin for sale
order generic nexium 40mg – https://anexamate.com/ nexium 40mg for sale
warfarin 5mg uk – anticoagulant hyzaar where to buy
mobic 15mg over the counter – swelling buy meloxicam 15mg
oral deltasone 10mg – asthma order prednisone 40mg without prescription
sexual dysfunction – site buy ed meds online
buy amoxil tablets – amoxil canada buy cheap generic amoxil
order fluconazole 100mg online cheap – click buy diflucan paypal
cenforce 50mg ca – https://cenforcers.com/# cenforce order online
cialis substitute – us pharmacy cialis cialis reviews photos
purchase zantac online cheap – https://aranitidine.com/# zantac 300mg price
cialis 20mg tablets – strong tadafl cialis price cvs
Thanks for putting this up. It’s okay done. this
viagra sildenafil 100 mg – on this site buy viagra cialis online canada
More text pieces like this would urge the интернет better. https://ursxdol.com/levitra-vardenafil-online/
The sagacity in this tune is exceptional. https://buyfastonl.com/furosemide.html
This website absolutely has all of the tidings and facts I needed to this subject and didn’t comprehend who to ask. https://prohnrg.com/product/metoprolol-25-mg-tablets/
I’ll certainly bring back to be familiar with more. https://aranitidine.com/fr/acheter-cenforce/
Thanks towards putting this up. It’s well done. https://ondactone.com/simvastatin/
More posts like this would persuade the online time more useful.
https://doxycyclinege.com/pro/spironolactone/
purchase forxiga without prescription – forxiga cheap buy forxiga 10mg online cheap
how to get xenical without a prescription – orlistat generic buy orlistat 60mg pill