JPMorgan: The total market value of 14 publicly listed Bitcoin mining companies in the U.S. reaches $56 billion, setting a new historical high

ChainCatcher news, according to a report released by JPMorgan on Wednesday, the total market capitalization of 14 publicly listed Bitcoin mining companies tracked by them surpassed $50 billion for the first time last month, reaching $56 billion, a month-on-month increase of 43%. The report noted that 12 of these 14 mining companies outperformed Bitcoin itself in September.

Meanwhile, the average network hash rate of Bitcoin increased by 9% month-on-month in September, reaching 1031 EH/s. However, despite the simultaneous rise in market capitalization and hash rate, miners' profitability has been squeezed due to intensified competition in hash rate. The report estimates that miners' daily block reward income decreased by 10% month-on-month in September, while gross profit fell by 17% month-on-month.