Bitcoin Mining Just Leveled Up — Hashrate Hits 885 EH/s & Profits Pop
The Bitcoin mining squad is thriving rn. JPMorgan just dropped a fresh report saying the network hashrate bumped up 2% in early May, clocking in at a crazy 885 EH/s (that’s exahashes per second for the nerds in the back). TL;DR? Mining got harder — but way more rewarding.
Why? Cuz BTC just shot up to a mind-blowing $102K+, giving miners a nice payday boost. Hashprice (aka how much you make mining each day) jumped 13% since April. JPM reckons miners are pocketing around $50,100 per EH/s in daily block rewards.
Meanwhile, U.S.-listed miners are holding the line strong, still repping 30.5% of the total network — that’s a slight 1.1% uptick from last month. And Wall Street’s vibing with the gains too. The total market cap of 13 tracked mining stocks spiked 24%, adding $4.6B to the pile.
Shoutout to Bitdeer (BTDR) for leading the pack with a 43% glow-up. Meanwhile, Greenidge (GREE) lagged behind with a 5% drop.
Moral of the story? BTC mining ain’t dead — it’s just getting started.
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