Bitcoin mining stocks tracked by JPMorgan have had a strong start to the year, outperforming Bitcoin itself in the first two weeks. The network hashrate has also increased by 2% month-to-date and is 51% higher than a year ago. The hashprice, a measure of daily mining profitability, has dropped slightly while hashrate growth has outpaced BTC price movement. The combined hashrate of the 14 U.S.-listed miners in JPMorgan's coverage has doubled in the last 12 months and now represents around 30% of the global network. The market cap of the tracked mining stocks has increased by 16% in the first two weeks of the year. Bitcoin has seen significant gains since the halving event in April and the U.S. presidential election in November, with a year-on-year increase of 134%.



Other News from Today