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JPMorgan: U.S. Miners Now Control Record 31.5% of Bitcoin Network Hashrate
U.S.-listed bitcoin mining firms have reached a historic milestone, now contributing 31.5% of the global Bitcoin network’s hashrate, JPMorgan said in a Monday report. That figure marks an all-time high for the group of 13 public miners the bank monitors.
The cohort added 11 EH/s of capacity since April alone, led by CleanSpark, Hive, and Riot, outpacing the network’s 55% YoY hashrate growth with their own 99% YoY surge.
Despite a surprising drop in global network hashrate—down 10 EH/s in early June—aggregate miner market cap rose by $2.4B this month. Riot Platforms gained 20%, while Bitfarms dropped 9%.
Hash price, which tracks mining profitability, slipped by 2% since late May, reflecting broader cost and revenue shifts across the sector.
