According to a report by JPMorgan, the total hashrate of U.S.-listed bitcoin miners has nearly doubled in the past year and now accounts for about 29% of the global network. The combined hashrate of these miners has increased by 95% year-over-year to 244 EH/s. However, the average bitcoin price has declined, putting pressure on mining economics. As a result, the hashprice, a measure of daily mining profitability, dropped 13%. Miners earned around $53,600 in daily block rewards this month, 6% lower than in January. The total market cap of bitcoin mining stocks decreased by 1%. In contrast, IREN outperformed with a 27% gain, while Greenidge Generation underperformed with a 20% drop. Another report by broker Bernstein stated that U.S. bitcoin mining stocks were increasing their share of the network hashrate.



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