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Bitcoin mining profitability increased significantly in November, thanks to record-high prices and rising transaction fees, according to a research report published today by JPMorgan. 
However, the bank noted that profitability remained significantly below pre-halving levels. 
“We estimate that Bitcoin miners earned an average of $52,000 per EH/s in daily block reward revenue in November, up 24% from October,” JPMorgan analysts Reginald Smith and Charles Pearce wrote, noting the revenue increases miners achieved throughout the month. The increase in transaction fees following the November 5 U.S. presidential election contributed to what the bank calls “hashprice relief.” Hashprice is a key measure of mining profitability that combines block rewards and transaction fees. 
Related News: <a href="https://en.bitcoinsistemi.com/why-has-the-bitcoin-price-never-surpassed-100000-heres-an-analysts-view/" target="_blank" rel="dofollow">Why Has The Bitcoin Price Never Surpassed $100,000? Here's an Analyst's View</a> 
The combined market value of the 14 publicly traded Bitcoin mining companies covered by JPMorgan rose 52% in November to $36.2 billion. 
JPMorgan also reported a 4% month-over-month increase in Bitcoin’s average network hashrate, which reached 731 exahashes per second (EH/s) in November. 
The company noted that Bitcoin’s annualized volatility also climbed in November, rising to 62% from 42% in October. This volatility presents both opportunities and challenges for miners, as sudden price swings can significantly impact profitability. 
Despite the improvements, the report noted that miners' gross profits remain around 50% below levels seen before Bitcoin's most recent halving event. 
*This is not investment advice. 
 Continue Reading: <a href="https://en.bitcoinsistemi.com/jpmorgan-releases-new-report-on-bitcoin-network-following-recent-volatility/">JPMorgan Releases New Report on Bitcoin Network Following Recent Volatility</a>

JPMorgan Releases New Report on Bitcoin Network Following Recent Volatility

Bitcoin Sistemi EN

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