The Bitcoin Hashrate Rose network 2 exashahes per second (EH/s) in the first two weeks of March, at an average of 811 EH/s, said Wall Street Bank JPMorgan (JPM) in a research report on Monday.
JPMorgan said that the miners trading in the United States maintained their participation in the hashrate of the network by around 30%.
The hashrate refers to the total combined computational power used to extract and process transactions in a chain of work test blocks, and is a proxy of competition in industry and mining difficulty.
The “Bitcoin average price decreased ~ 10%, pressing the mining economy in the period,” wrote the analysts Reginald Smith and Charles Pearce.
The hashprice, a daily mining profitability measure, did not change widely since the end of last month, the report said.
The miners obtained approximately $ 48,300 in revenue of daily block reward for EH/s in the first two weeks of March, an 11% drop from February and a 52% decrease since the reduction of the middle of last April, the bank said.
The total market capitalization of the 14 miners that is quoted in the United States that the bank tracked fell 13%, or around $ 3 billion, the previous month.
Argo Blockchain (Argo) exceeded 1%gain, while encryption mining had a lower yield with a 25%decrease. Only one of the miners in bank coverage surpassed Bitcoin in the same period, the report added.
Read more: Bitcoin Mining Economics weakened in February: Jpmorgan
