In January, the Bitcoin network hashrate experienced a slight increase, rising by 1% to 785 exahashes per second (EH/s). However, the month-end, weekly moving average hashrate saw a 2% decline from the end of December. Despite this, the slight increase in hashrate and the decrease in mining difficulty is seen as a positive for Bitcoin mining economics. The network difficulty still remains 25% higher than before the halving event in April. Mining profitability also saw a small increase, with miners earning an average of $57,200 per EH/s in daily block reward revenue. The total market cap of the bitcoin miners tracked by the bank rose by 5% from the previous month. Cipher Mining and Riot Platforms performed well, gaining 23% and 16% respectively, after announcing high-performance computing (HPC) news. On the other hand, TeraWulf underperformed, with shares dropping by 16%.



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