“Mining Economics Came Under Pressure as the Network Hashrate Rose Whitcoin Price Fell, The Report Said.”, – WRITE: www.coindesk.com
The Combined Hashrate of the 14 Companies “HAS INCREASED ~ 95% Y/Y to 244 EH/S, Versus A 45% Increase in the Network Hashrate,” Analysts Reginald Smith and Charles Pearerce Wrote.
The Network Hashrate is a Proxy for Competition in the Industry and Mining Diffelty. The Bitcoin Network Hashrate Has Risen About 6% SO Far This MONTH, AND HAS CLIMBED 45% IN THE LAST 12 MONHS, The REPORT SAID.
“AVERAGE BITCOIN PRICE ALSO DECLINED MODESTLY FROM JANUARY, Pressuring Mining Economics,” The Authors Wrote.
The Hashprice, A MEASURE OF DAILY MINING PROFITITY, DROPPED 13% from the End of January, as The Hashrate Rose and the Bitcoin Price Fell, Jpmorgan Said.
The Bank Estimated that Mines Earned Armund $ 53.600 in Daily Block Rewards this Month, 6% Lower than in January.
The Total Market Cap of the Bitcoin Mining Stocks in the Bank’s COVERAGE WAS 1% LOWER THAN THE MONTH PREVIUS, The REPORT ADDEDED.
Iren (Iren) OutperForrated in the First Two Weeks of February With A 27% Gain, The Bank Noted. Greenidge Generation (GREE) UnderPerFormed with A 20% Drop.
In a monday report, Broker Bernstein SAID US BITCOIN MINING STES WERE INCREASING THREE Share of the Network Hashrate.
Read More: US-LISTED BITCOIN MINers Are Growing Their Share of the Network Hashrate: Bernstein
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