The US listed in the US tracked by JPMorgan poured 25% of their market cap in March
The total market cap of 14 listed in the US listed in Bitcoin (BTC) monitored by JPMorgan (JPM) dropped 25% in March, the third-integrated monthly performance on the record, the Wall Street bank said Tuesday.
Only a stock, Stronghold Digital Mining (Sigd), that -outperformed Bitcoin (Btc) Last month, the report was mentioned. Miners with high performance computing (HPC) exposure underperformed pure-play miners for the second month in a row.
“We notice appreciation now is at the lowest level associated with the block reward because the Falling FTX In the fall of 2023, “analysts Reginald Smith and Charles Pearce wrote.
The average network hashrate is higher in the moon to 816 exahashes per second (eh/s), the report said. 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.
Mining revenue and profitability both have fallen.
“We estimate Bitcoin miners who earn an average of $ 47,300 per eh/s in the sun -reward of the block reward in March, down 13% from February,” the bank said. The daily block reward gross profit drops 22% month-to-month up to $ 23,000 per eh/s.
Stronghold Digital changed the sector last month with a 2% decline. Cipher Mining (CIFR) does not change in a 45% collapse.
Read more: Bitcoin Network’s hashrate was higher in March as the mining economy weakened: JPMorgan
