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You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-mining-profitability-increases-significantly-in-november/" data-wpel-link="internal">Bitcoin Mining Profitability Increases Significantly in November</a> 
In the first half of November, Bitcoin (BTC) mining profitability saw a notable increase. According to JPMorgan’s report, the hashrate price rose by 29%. This increase in hashrate price occurred alongside a rally in Bitcoin’s price and a higher share of transaction fees in the block reward. The market value of mining companies surged by about 8 billion dollars, reflecting a 33% increase. Mining companies listed in the U.S. accounted for 28% of the global hashrate, maintaining their record-high share. 
<h2 style="text-align: justify" id="strong-increase-in-bitcoin-hashrate-strong">Increase in Bitcoin Hashrate</h2> 
The hashrate, which indicates the total processing power of the Bitcoin network, reached 718 EH/s in November, marking a 2% increase. JPMorgan analysts noted that the recent rally in Bitcoin has contributed to increased mining profitability and that transaction fees now constitute a larger portion of the block reward. 
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 <img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-408087" src="https://coin-turk.com/wp-content/uploads/2024/11/Bitcoin-Hash-Rate.jpg" alt="" width="2330" height="1430">
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 Bitcoin Hash Rate
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Analysts Reginald Smith and Charles Pearce emphasized that the increase in mining companies’ revenues is directly linked to the rising price of Bitcoin. Furthermore, the share of 14 U.S.-based mining companies in the global hashrate rose to 28%, maintaining record levels. 
The increase in hashrate is intensifying competition and mining difficulty in the sector. However, rising transaction fees play a crucial role in supporting miners’ incomes. The market optimism and price rally at the beginning of November created a more positive atmosphere across the industry. 
<h2 style="text-align: justify" id="strong-mining-revenues-decreased-in-october-strong">Mining Revenues Decreased in October</h2> 
In October, Bitcoin mining revenues had declined for the fourth consecutive month. JPMorgan reported that daily mining revenues decreased by 1%, dropping to $41,800 per EH/s, with gross profits declining by 2%. However, the rise in transaction fees to 60% of block rewards partially alleviated the pressure on miners regarding hashrate prices. The average monthly hashrate reached a record high of 702 EH/s in October, marking a 9% increase. 
The recovery that began in November has provided new momentum for the Bitcoin mining economy. JPMorgan continues to closely monitor the increasing influence of U.S.-based miners and changes in the global sector. 
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Bitcoin Mining Profitability Increases Significantly in November

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