The market capitalization of 14 US Checklist Bitcoin (BTC) miners tracked by JPMorgan (JPM) fell 25% in March.
Final month, solely the Shares of Base Digital Mining (SDIG) (SDIG) and Outperform Bitcoin (BTC) talked about it. Miners with excessive efficiency computing (HPC) publicity haven’t carried out pure play miners for the second consecutive month.
“We observe that right now’s rankings have been on the lowest stage in comparison with block rewards for the reason that fall of FTX in 2023,” writes analysts Reginald Smith and Charles Pierce.
Based on the report, the common community was larger to 816 exahashes (EH/s) that month. Hashrate refers back to the complete computing energy used to mine and course of transactions on the Proof of Work Blockchain, a proxy for competitors and mining difficulties within the trade.
Each mining income and profitability declined.
“Bitcoin Miner estimates that it averaged $47,300 per EH/s in its every day block compensation income in March. The every day block compensation complete revenue fell 22% per 30 days to $23,000 per EH/s.
Stronghold Digital fell 2% final month over the sector. Crypto Mining (CIFR) carried out poorly in a droop of 45%.
learn extra: Bitcoin community hashrates elevated in March as mining economics weakened: JPMorgan
