The Bitcoin network’s hashrate made a significant comeback last month, climbing approximately 50 exahashes per second (EH/s) to an average of 949 EH/s, as reported by Wall Street bank JPMorgan.

Key Points:

• The market capitalization of 13 U.S.-listed bitcoin miners observed by the bank reached a record high last month, achieving a 23% increase compared to the previous month.
• TeraWulf’s stock soared by 83% following the announcement of a colocation partnership with Fluidstack.

Mining profitability, however, saw a decline compared to the previous month as bitcoin prices fell.
Analysts Reginald Smith and Charles Pearce noted, ‘We estimate bitcoin miners earned an average of $55,100 per EH/s in daily block reward revenue in August, a decrease of 4% from July.’

Overall, the combined market cap of the tracked miners surged 23% month-over-month, amounting to about $7.4 billion.