JPMorgan released a research report on Monday showing that as Bitcoin prices broke through $99,500 last month, the stock prices of some publicly traded Bitcoin mining companies also significantly increased.

The report pointed out that the market capitalization of 14 Bitcoin mining companies tracked by JPMorgan grew by 52% month-on-month, reaching $36.2 billion. Among the best-performing companies in November, Singapore's Bitdeer saw its stock price rise by 83% during this period, reaching $14.27. Overall, last month, the stock prices of publicly traded Bitcoin mining companies rose after the U.S. election, with Argo Blockchain being the only mining company to post losses at the end of November, as its stock price fell by 3% during the month to $1.08 last Friday.

Since the halving event in April, Bitcoin mining revenue has decreased by 50%. Although the rewards remain relatively low, the increase in Bitcoin prices led to higher mining returns in November. Based on 1 EH, the daily revenue of Bitcoin mining companies in November grew by 24% from around $42,000 in October to $52,000.