CandleFocus Bitcoin Mining Profitability Improved in November, JPMorgan Says
2024-12-02
Author: Content Editor
According to a research report by JPMorgan, Bitcoin's daily mining revenue and gross profit increased in November as the cryptocurrency reached new all-time highs. However, it is still about 50% lower than pre-halving levels. The report also noted that transaction fees on the Bitcoin network surged after the US presidential election, providing some relief to mining profitability. The market capitalization of the 14 publicly listed Bitcoin miners covered in the report also rose significantly in November. The average network hashrate increased, indicating competition in the mining industry. Additionally, Bitcoin's annualized volatility rose from 42% to 62% in November.
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