Key Takeaways:
- The Bitcoin network’s hashrate has risen by 4% in the first half of August, averaging 937 EX/s, according to a report from JPMorgan.
- U.S.-listed mining companies monitored by JPMorgan now represent a record 33.6% of the global hashrate.
- High-performance computing (HPC) firms are seeing better performance following TeraWulf’s recent deal with Fluidstack.
The hashrate, indicating the total computational power utilized for mining and processing transactions on a proof-of-work blockchain, serves as a gauge for industry competition and mining difficulty.
Over the past month, the combined hashrate of the 13 miners tracked by JPMorgan surged by 94% YoY, significantly outpacing the total network’s 48% growth. The firm calculates that these miners have been generating approximately $56,300 in daily block rewards per EX/s, reflecting a 2% decline compared to last month.
The report highlighted that the market capitalization of covered Bitcoin mining companies increased by 6% to $33.7 billion in August. It was noted that TeraWulf’s stock experienced a remarkable 74% increase, while Riot Platforms faced a stark 16% decline.
