Bitcoin Mining Stocks Up

Bitcoin Mining Stocks Up
фото показано с : bravenewcoin.com

2024-11-20 14:10

This surge was driven by Bitcoin’s price rally outpacing the growth in network hashrate and an increase in transaction fees as a proportion of block rewards.

Hash Rate Surging, Source: Blockchain

The market capitalization of mining stocks tracked by JPMorgan increased by approximately $8 billion, or 33%, between October 31 and November 15. This growth reflects gains in Bitcoin’s value and a broader optimism in the cryptocurrency market following the U.S. presidential election.

New Bitcoin All-time High

Bitcoin’s price surged by about 30% to reach all-time highs after Donald Trump’s victory in the U.S. presidential election earlier this month. Concurrently, the network hashrate—a measure of the total computational power used for mining and processing transactions—rose by 2% month-to-date, averaging 718 exahashes per second (EH/s). This metric serves as a proxy for competition and mining difficulty within the industry.

Source: Brave New Coin Bitcoin Liquid Index

Notably, the 14 U.S.-listed miners covered in JPMorgan’s report now contribute approximately 28% to the global network hashrate, maintaining their share at record levels.

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bitcoin mining earnings miner rising indicator october

Источник: bravenewcoin.com

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