4 weeks ago
The Bitcoin web hashrate roseate 2% successful the archetypal 2 weeks of May to an mean of 885 exahashes per 2nd (EH/s), Wall Street slope JPMorgan (JPM) said successful a probe study Friday.
The hashrate refers to the full combined computational powerfulness utilized to excavation and process transactions connected a proof-of-work blockchain, and is simply a proxy for contention successful the manufacture and mining difficulty.
Miner profitability improved successful May, arsenic the terms of bitcoin BTC rose, and gross margins expanded, the slope said.
The hashprice, a measurement of regular mining profitability, roseate 13% from April, which the slope said was "encouraging."
"We estimation miners earned ~$50,100 successful regular artifact reward gross per EH/s implicit the archetypal 2 weeks of the month, up 13% from past period and 3% y/y," analysts Reginald Smith and Charles Pearce wrote.
U.S.-listed miners maintained their stock of the web hashrate, and presently relationship for astir 30.5% of the network, a 1.1% summation from April, the slope said.
The full marketplace headdress of the 13 U.S.-listed bitcoin mining stocks that the slope tracks roseate 24%, oregon $4.6 billion, this month.
Bitdeer (BTDR) outperformed with a 43% gain, portion Greenidge (GREE) underperformed the assemblage with a 5% decline, the study said.
Read more: Bitcoin Miners With HPC Exposure Underperformed BTC for Third Straight Month: JPMorgan
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