The Bitcoin (BTC) Network Hashrate rose slightly during the first two weeks of May: JPMorgan
The hashrate of the Bitcoin network rose 2% in the first two weeks of May to an average of 885 exahashes per second (eh/s), Wall Street Bank JPMorgan (JPM) said in a research report on Friday.
The Hashrate Refers to the total combined computational power used in mine and process transactions in a Proof-of-work Blockchain, and a proxy for industry and mining poverty competition.
Miner’s profitability was improved in May, because the price of Bitcoin
Rose, and the gross margins expanded, the bank said.
The hashprice, a measure of sunny profitability of mining, has risen 13% since April, which the bank said “encouraging.”
“We estimate the miners earned ~ $ 50,100 in the sun -day -to -day reward per eh/s in the first two weeks of the month, up to 13% since last month and 3% y/y,” analysts Reginald Smith and Charles Pearce wrote.
Miners listed in the US maintain their part of the network hashrate, and currently costs about 30.5% of the network, an increase of 1.1% since April, the bank said.
The total market cap of 13 listed in the US listed in Bitcoin mining stocks whose bank tracks rose 24%, or $ 4.6 billion, this month.
Bitdeer (BTDR) has been raised by a 43% gain, while the greenidge (gree) does not change the sector with 5% denial, the report said.
Read more: Bitcoin miners with HPC exposure underperformed BTC for the third straight month: JPMorgan
