{"id":18725,"date":"2024-11-19T16:02:37","date_gmt":"2024-11-19T14:02:37","guid":{"rendered":"https:\/\/forklog.com\/en\/jpmorgan-reports-29-increase-in-bitcoin-mining-profitability\/"},"modified":"2024-11-19T16:02:37","modified_gmt":"2024-11-19T14:02:37","slug":"jpmorgan-reports-29-increase-in-bitcoin-mining-profitability","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/jpmorgan-reports-29-increase-in-bitcoin-mining-profitability\/","title":{"rendered":"JPMorgan Reports 29% Increase in Bitcoin Mining Profitability"},"content":{"rendered":"<p>In the first half of November, the profitability of bitcoin mining\u2014<span data-descr=\"miners' revenue relative to computational power used\" class=\"old_tooltip\">hashprice<\/span>\u2014rose by 29%. This was reported by <a href=\"https:\/\/www.coindesk.com\/markets\/2024\/11\/19\/bitcoin-mining-economics-improved-in-the-first-half-of-november-jpmorgan\/\">CoinDesk<\/a>, citing a JPMorgan report.<\/p>\n<p>Analysts Reginald Smith and Charles Pierce noted that two main factors contributed to the significant improvement in mining economics:<\/p>\n<ul class=\"wp-block-list\">\n<li>the rally in the leading cryptocurrency&#8217;s prices, which outpaced the increase in hash rate;<\/li>\n<li>the rise in the share of transaction fees as a percentage of block rewards.<\/li>\n<\/ul>\n<p>Following Donald Trump&#8217;s victory in the U.S. presidential election in early November, the price of bitcoin increased by about 30%, reaching a new all-time high.<\/p>\n<p>The total computational power of the network during this period grew by 2%, reaching an average of 718 EH\/s.<\/p>\n<p>On November 18, a recent mining difficulty adjustment resulted in an increase of only 0.63%, confirming a slowdown in hash rate expansion. However, the record-high level of 102.29 T will continue to pressure mining profitability.\u00a0\u00a0\u00a0<\/p>\n<p>According to JPMorgan, the 14 U.S.-listed mining companies tracked by the bank still account for about 28% of the network&#8217;s total power.<\/p>\n<p>The total market capitalization of these enterprises rose by 33%, or approximately $8 billion, from October 31 to November 15.<\/p>\n<p>Back in October, analysts at Matrixport highlighted the potential for miner valuations to rise due to the stabilization of revenue declines and lagging behind bitcoin&#8217;s dynamics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the first half of November, the profitability of bitcoin mining\u2014hashprice\u2014rose by 29%. This was reported by CoinDesk, citing a JPMorgan report. Analysts Reginald Smith and Charles Pierce noted that two main factors contributed to the significant improvement in mining economics: the rally in the leading cryptocurrency&#8217;s prices, which outpaced the increase in hash rate; [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":18724,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1137,229,1252],"class_list":["post-18725","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-mining","tag-jpmorgan","tag-reports"],"aioseo_notices":[],"amp_enabled":true,"views":"15","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/18725","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=18725"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/18725\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/18724"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=18725"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=18725"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=18725"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}