The Bitcoin Mining Economic Situation Improves in the First Half of November: JPMorgan

Reports from JPMorgan show that the Bitcoin mining economy has seen a marked improvement in the first half of November. The 'hashprice' index – a measure of the profitability of Bitcoin mining – has increased nearly 30% since the end of October. This growth has been driven by the Bitcoin price rising faster than the growth rate of the network's 'hashrate', along with an increase in transaction fees, which account for a higher proportion of block rewards.

The total market capitalization of the mining company stocks tracked by JPMorgan has increased by 33% (equivalent to about 8 billion USD) from October 31 to November 15. This reflects the rising price of Bitcoin and the optimistic sentiment in the cryptocurrency market following the US presidential election with Donald Trump's victory. Bitcoin – the largest cryptocurrency in the world – has surged by up to 30%, reaching a new record high.

However, the network's hashrate – representing the total computational power used to mine Bitcoin – has only increased by 2% over the month, averaging 718 exahashes per second (EH/s). Hashrate is a measure of the level of competition and difficulty in the mining industry.

Currently, 14 Bitcoin mining companies listed in the US account for about 28% of the global hashrate, maintaining this record level. With improved mining profitability and positive market sentiment, the Bitcoin mining industry in the US is making strong progress, solidifying its position in the global network.