JP Morgan Chase: Bitcoin network hashrate rose slightly in the first two weeks of May

In a research note released on Friday, JPMorgan noted that the Bitcoin network hashrate rose by 2% in the first two weeks of May, averaging 88 5EH/s. As bitcoin prices rose, miners' gross profit expanded month-on-month, mining economic conditions improved, and miners' profitability capacity enhancement. Hash prices, which measure daily mining profitability, rose 13% from April, which is "encouraging". Analysts said daily block reward revenue per EH/s for miners in the first two weeks of this month was about $50,100, up 13% from the previous month and up 3% year-on-year. In addition, U.S. listed mining companies maintained their share of online hashing power, currently accounting for about 30.5%, up 1.1% from April. The total market value of 13 U.S. bitcoin mining stocks tracked by the bank rose 24% this month, or $4.60 billion, of which Bitdeer rose 43% and Greenidge fell 5%. (CoinDesk)