JPMorgan Chase: In March, the computing power of the Bitcoin network increased slightly, and the economics of mining declined

JPMorgan Chase: In March, the computing power of the Bitcoin network increased slightly, and the economics of mining declined
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ChainCatcher 链捕手
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According to CoinDesk, JPMorgan Chase (JPM) released a research report on Monday showing that in the first two weeks of March 2025, the Bitcoin network computing power increased by 2 EH/s, reaching an average of 811 EH/s.

According to the report, U.S.-listed miners maintain about 30% of the share of network computing power. At the same time, the average price of Bitcoin fell by about 10% during the period, putting pressure on the economics of mining. The hashrate price, a measure of the profitability of daily mining, remained largely unchanged compared to the end of last month. In the first two weeks of March, miners earned about $48,300 per EH/s of daily block rewards, down 11% from February and 52% from last April after the halving event.

The combined market capitalization of the 14 U.S.-listed miners tracked by JPMorgan Chase & Co. fell 13% from the previous month to about $3 billion. Among them, Argo Blockchain (ARGO) was the best performer, rising 1%, while Cipher Mining was the worst performer, falling 25%. The report added that only one of the miners covered by the bank outperformed Bitcoin during the same period.

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