Share this article
Bitcoin Mining Economics Continued to Improve in December, JPMorgan Says
The hashprice, a measure of daily mining profitability, rose 5% from the end of November, the report said.
Updated Dec 16, 2024, 1:31 p.m. Published Dec 16, 2024, 1:27 p.m.
What to know:
- The hashprice rose 5% this month as bitcoin mining economics improved, the report said.
- The combined hashrate of the miners in the bank's coverage now accounts for about 29% of the global network.
- The aggregate market cap of the miners the bank tracks fell $1.5 billion in the first two weeks of the month.
Bitcoin mining economics continued to improve this month, as the hashprice, a measure of daily profitability, rose 5% from the end of November, JPMorgan (JPM) said in a research report Monday.
The hashprice increased as the rally in the world's largest cryptocurrency outpaced the rise in the network hashrate, the report said. The hashrate is a proxy for competition in the industry and mining difficulty.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The network hashrate has increased 6% month-to-date to an average of 773 exahashes per second (EH/s), the bank noted.
"We note miners earned about $57,300 in daily block reward revenue per EH/s over the first two weeks of December," analysts Reginald Smith and Charles Pearce wrote, adding that this is the highest level in the last seven months, but is still about 40% below pre-halving levels.
The combined hashrate of the fourteen U.S.-listed miners the bank tracks has increased almost 94% year-to-date to 222 EH/s and now accounts for around 29% of the global network, the bank said.
The total market cap of the miners the bank tracks fell 4% or $1.5 billion, having increased more than 50% following the U.S. presidential election.
The bank estimated that the U.S.-listed miners are currently trading on about two times their proportional share of the four-year block reward opportunity.
Read more: Bitcoin Mining Profitability Improved in November, JPMorgan Says
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Crypto Markets Today: Traders Seek Catalysts After Bitcoin’s Post-Fed Pullback
The crypto market slipped to the lower end of its range after the Federal Reserve’s 25bps rate cut failed to spark fresh momentum.
What to know:
- BTC is trading near $90,350 after defending the $88,200 support zone, but momentum remains capped below the key $94,500 resistance level.
- Implied volatility fell to its lowest since November, ETH/BTC IV spreads widened, and risk reversals stayed negative across tenors while open interest declined—most sharply in ADA.
- Low-liquidity conditions dragged tokens like ETHFI, FET, ADA and PUMP down more than 8%, while privacy-focused XMR stood out with gains as the broader altcoin season index slumped to 19/100.
Top Stories
