Bitcoin Network hashrate increased 2% in the first two weeks of May to an average of 885 exhahas per second (EH/s), said Wall Street Bank JPMorgan (JPM) in a research report on Friday.
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.
Minero’s profitability improved in May, since Bitcoin’s price
Rose and the gross margins expanded, said the bank.
The hashprice, a daily mining profitability measure, increased by 13% since April, which the bank said it was “encouraging.”
“We estimate that the miners earned ~ $ 50,100 in revenue of daily block reward for EH/s during the first two weeks of the month, 13% more than last month and 3% and/and”, wrote the analysts Reginald Smith and Charles Pearce.
The miners who quote in the United States maintained their participation in the hashrate of the network, and currently represent approximately 30.5% of the network, an increase of 1.1% as of April, said the bank.
The total market capitalization of the 13 Bitcoin mining shares that are quoted in the US. UU. That the bank tracks increased 24%, or $ 4.6 billion, this month.
Bitdeer (BTDR) exceeded a profit of 43%, while Greenidge (GREE) had a lower performance to the sector with a 5%decrease, according to the report.
Read more: Bitcoin miners with HPC exposure have a lower BTC yield for the third consecutive month: JPMorgan
