Bitcoin (BTC) mining economy continues to improve in December, says JPMorgan (JPM)

Bitcoin (BTC) mining economics continued to improve this month as hashprice, a measure of daily profitability, rose 5% from the end of November, JPMorgan (JPM) said in a research report on Monday.
Hashpra rose as the rally in the world’s largest cryptocurrency outpaced the growth of the network’s hashrate, the report said. The hashrate Industrial and mining distress is a proxy for competition.
The network’s hashrate increased by 6% month-on-month to an average of 773 exahashes per second (EH/s), the bank noted.
“We note that miners earned $57,300 in daily block rewards in the first two weeks of December,” analysts Reginald Smith and Charles Pearce wrote, the highest level in seven months, but still roughly 40% below the halfway point. .
The combined hashrate of fourteen US-registered miners has increased by nearly 94% year-to-date to 222 EH/s and now accounts for 29% of the global network, the bank said.
The total market capitalization of bank-controlled miners increased by more than 50% after the US presidential election and fell by 4% or $1.5 billion.
According to the bank’s calculations, US-registered miners currently trade with a proportional share of twice the potential for a four-year block reward.
Read more: Bitcoin Mining Profitability Improved in November, JPMorgan Says
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