U.S.-Listed Bitcoin Miners’ Hashrate Nearly Doubles to 29% of Global Total

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The total hashrate of U.S.-listed bitcoin miners tracked by JPMorgan has nearly doubled over the past year, now representing approximately 29% of the global network. Key points include:

The combined hashrate of 14 companies increased by about 95% year-on-year to 244 EH/s.
The Bitcoin network hashrate rose about 6% this month and 45% in the last year.
Average bitcoin price declined slightly since January, affecting mining economics.
The hashprice dropped 13% since the end of January due to rising hashrate and falling bitcoin prices.
Daily block rewards for miners are estimated at $53,600, a 6% decrease from January.
The market cap of bitcoin mining stocks covered by JPMorgan is 1% lower than the previous month.
IREN recorded a 27% gain in early February; GREE saw a 20% drop.

Bernstein noted an increase in the share of the network hashrate among U.S. bitcoin mining stocks.