CandleFocus U.S.-Listed Bitcoin Miners Hit Record 29% of Network Hashrate in October: JPMorgan
2024-10-16
Author: Content Editor
JPMorgan has reported that the combined hashrate of the publicly listed bitcoin mining stocks it tracks now represents a record 28.9% of the network hashrate. The bank noted a 4% increase in the network hashrate this month, as well as a slight increase in mining profitability. JPMorgan sees potential trading opportunities in mining stocks leading up to the US election. The bank also highlighted that the total market capitalization of the miners it covers has risen 7% and could offer an attractive entry point for investors. However, rival bank Jefferies warned that October could be a more challenging month for miners.
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