{"id":6424,"date":"2025-01-07T09:31:44","date_gmt":"2025-01-07T09:31:44","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=6424"},"modified":"2025-01-07T09:31:44","modified_gmt":"2025-01-07T09:31:44","slug":"bitcoin-mining-profitability-rose-in-december-for-second-month-in-a-row-jpmorgan","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=6424","title":{"rendered":"Bitcoin Mining Profitability Rose in December for Second Month in a Row: JPMorgan"},"content":{"rendered":"<div>\n<p>Bitcoin (<a href=\"https:\/\/www.coindesk.com\/price\/bitcoin\/\" target=\"_blank\">BTC<\/a>) miners&#8217; daily revenue and gross profit rose for the second consecutive month in December, hitting the highest levels since April, JPMorgan (JPM) said in a research report on Monday.<\/p>\n<p>Mining profitability increased as the rally in the world&#8217;s largest cryptocurrency continued to outpace network hashrate growth, the bank noted.<\/p>\n<p>JPMorgan estimated that bitcoin miners earned an average of $57,100 per exahash per second (EH\/s) in daily block reward revenue last month, 10% more than in November.<\/p>\n<p>Still, &#8220;daily revenue and gross profit per EH\/s is still 43% and 52% below pre-halving levels, respectively,&#8221; analysts Reginald Smith and Charles Pearce wrote.<\/p>\n<p>The network hashrate grew by 6% in December to an average of 779 EH\/s, the report said. <a href=\"https:\/\/www.coindesk.com\/opinion\/2024\/08\/14\/the-coming-financialization-of-hashrate-markets\" target=\"_blank\">Hashrate<\/a> refers to the total combined computational power used to mine and process transactions on a <a href=\"https:\/\/www.coindesk.com\/learn\/what-is-proof-of-work\" target=\"_blank\">proof-of-work<\/a> blockchain. <\/p>\n<p>Mining difficulty rose 7% from the month before and is now 27% higher than before the <a href=\"https:\/\/www.coindesk.com\/tech\/2024\/04\/20\/bitcoin-blockchain-has-fourth-halving-in-15-year-history-in-show-of-monetary-policy-set-by-code\" target=\"_blank\">reward halving event<\/a> in April, the bank said. The hashrate increased 54% in 2024, slower than 2023&#8217;s gain of 103%.<\/p>\n<p>The total market cap of the 14 publicly listed bitcoin miners that the bank tracks declined 23% to $28 billion in December. The figure rose 52% in November.<\/p>\n<p>TeraWulf (WULF) was the only miner that outperformed bitcoin last year, with a 136% gain, the report said. Bitcoin climbed about 120%.<\/p>\n<p>Read more: <a href=\"https:\/\/www.coindesk.com\/markets\/2024\/12\/19\/bitcoin-miners-are-expected-to-be-profitable-in-december-jefferies-says\" target=\"_blank\">Bitcoin Miners Are Expected to be Profitable in December, Jefferies Says<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin (BTC) miners&#8217; daily revenue and gross profit rose for the second consecutive month in December, hitting the highest levels since April, JPMorgan (JPM) said in a research report on Monday. Mining profitability increased as the rally in the world&#8217;s largest cryptocurrency continued to outpace network hashrate growth, the bank noted. JPMorgan estimated that bitcoin [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-6424","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/6424","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6424"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/6424\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6424"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6424"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6424"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}