Bitcoin Mining Profitability Improves as Hashrate and Competition Surge
Bitcoin Mining Profitability Rises Amid Increased Hashrate
Bitcoin mining profitability has improved, with hashprice—daily earnings per unit of mining power—rising 5% since late November, according to JPMorgan. This growth is driven by Bitcoin's price rally, outpacing the network's 6% hashrate increase to 773 EH/s. Miners earned $57,300 in daily block rewards per EH/s in early December, the highest in seven months but still 40% below pre-halving levels. U.S.-listed miners, whose combined hashrate grew 94% this year to 222 EH/s, now contribute 29% of global hashrate. Despite this, their market value dropped 4%, with shares trading at twice their proportional block reward share.