Bitcoin Hashrate Increases 4% to 937 EH/s in August’s First Half
The Bitcoin network hashrate increased by 4% in early August, averaging 937 EH/s, according to JPMorgan's research report. Key points include:
- The hashrate measures the total computational power for mining and processing transactions.
- U.S.-listed miners' combined hashrate rose 94% year-on-year, outpacing the overall network's 48% increase.
- U.S. miners now represent 33.6% of the global hashrate, a record high.
- Miners earned approximately $56,300 in daily block reward revenue per EH/s, down 2% from the previous month.
- The hashprice, indicating mining profitability, also declined by 2% since July.
- The market cap of covered bitcoin mining companies increased by 6% to $33.7 billion.
- TeraWulf saw a significant 74% gain following a deal with Fluidstack and investment from Google.
- Riot Platforms experienced a 16% decline during the same period.