6 days ago
The full marketplace headdress of the 13 U.S.-listed miners that JPMorgan tracks roseate astir 20% successful May, arsenic bitcoin BTC rallied and mining profitability increased, the slope said successful a probe study Monday.
The Bitcoin web hashrate roseate astir 25 exahashes per 2nd (EH/s) to an mean of 897 EH/s past month, according to the report.
The hashrate refers to the full combined computational powerfulness utilized to excavation and process transactions connected a proof-of-work blockchain, and is simply a proxy for contention successful the manufacture and mining difficulty.
Mining profitability improved successful May. The slope estimated that "bitcoin miners earned an mean of $51,600 per EH/s successful regular artifact reward gross successful May, up 16% from April," analysts Reginald Smith and Charles Pearce wrote.
Daily artifact reward gross nett besides accrued substantially, jumping 36% month-on-month to $27,900 per EH/s, the slope noted.
IREN (IREN) outperformed the radical with a 37% rise, and Bitfarms (BITF) underperformed with an 8% decline, JPMorgan said.
Seven of the thirteen bitcoin mining companies that the slope tracks outperformed bitcoin past month, the study added.
Read more: Bitcoin Mining Profitability Fell successful April arsenic Network Hashrate Rose: Jefferies
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