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Bitcoin (BTC) miners' regular gross and gross nett roseate for the 2nd consecutive period successful December, hitting the highest levels since April, JPMorgan (JPM) said successful a probe study connected Monday.
Mining profitability accrued arsenic the rally successful the world's largest cryptocurrency continued to outpace web hashrate growth, the slope noted.
JPMorgan estimated that bitcoin miners earned an mean of $57,100 per exahash per 2nd (EH/s) successful regular artifact reward gross past month, 10% much than successful November.
Still, "daily gross and gross nett per EH/s is inactive 43% and 52% beneath pre-halving levels, respectively," analysts Reginald Smith and Charles Pearce wrote.
The web hashrate grew by 6% successful December to an mean of 779 EH/s, the study said. Hashrate refers to the full combined computational powerfulness utilized to excavation and process transactions connected a proof-of-work blockchain.
Mining trouble roseate 7% from the period earlier and is present 27% higher than earlier the reward halving event successful April, the slope said. The hashrate accrued 54% successful 2024, slower than 2023's summation of 103%.
The full marketplace headdress of the 14 publically listed bitcoin miners that the slope tracks declined 23% to $28 cardinal successful December. The fig roseate 52% successful November.
TeraWulf (WULF) was the lone miner that outperformed bitcoin past year, with a 136% gain, the study said. Bitcoin climbed astir 120%.
Read more: Bitcoin Miners Are Expected to beryllium Profitable successful December, Jefferies Says
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