JPMorgan: The total market value of 14 US-listed bitcoin mining companies reaches $56 billion, hitting a record high
According to a report by Jinse Finance citing CoinDesk, JPMorgan released a report on Wednesday stating that the total market capitalization of the 14 US-listed bitcoin mining companies it tracks surpassed $50 billion for the first time last month, reaching $56 billion, a month-on-month increase of 43%. The report pointed out that 12 out of these 14 mining companies outperformed bitcoin itself in September. Meanwhile, the average bitcoin network hashrate increased by 9% month-on-month in September, reaching 1,031 EH/s. However, despite the simultaneous rise in market capitalization and hashrate, miners' profitability has been squeezed due to intensified hashrate competition. The report estimates that miners' daily block reward income in September fell by 10% month-on-month, while gross profit dropped by 17% month-on-month.
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