JPMorgan's Mining Report: 'Bitcoin Mining Companies Reach Record Market Value!' Here Are the Details

According to a report published by JPMorgan, the total market value of 14 publicly traded Bitcoin mining companies in the US reached a historic high of $56 billion in September. JPMorgan: US Bitcoin Mining Companies Market Value Hits Record $56 Billion This marks the first time the sector has surpassed the $50 billion ￰0￱ report revealed a 43% month-over-month increase in market ￰1￱ to the data, 12 of the 14 companies examined outperformed Bitcoin's own price in ￰2￱ the same period, the Bitcoin network's average hash rate rose by 9% to 1,031 EH/s. This suggests that while the network's security has strengthened, mining competition has also intensified.

However, increased competition has negatively impacted miners' ￰3￱ to a JPMorgan report, miners' daily block reward revenue decreased by 10% in September compared to the previous month. Miners' gross profit also fell by 17%. Experts say this rapid growth in mining companies' market capitalization reflects investor interest, but the pressure on revenues could pose a sustainability ￰4￱ rise in hash rate, in particular, could squeeze profit margins and raise expectations for more intense consolidation in the sector. *This is not investment ￰5￱ Reading: JPMorgan's Mining Report: 'Bitcoin Mining Companies Reach Record Market Value!' Here Are the Details