U.S. Bitcoin Mining Companies Reach Record Hashrate

According to PANews, a recent report by CoinDesk highlights that U.S. Bitcoin mining companies have reached a record high in global network hashrate. JPMorgan's research indicates that 13 publicly listed American Bitcoin mining firms now account for approximately 31.5% of the global network's hashrate. This increase is largely driven by companies such as CleanSpark, Hive Technologies, and Riot Platforms, which have collectively added 11 EH/s of hashrate since April. Despite a 10 EH/s decline in the global average hashrate during the first two weeks of June, bringing it down to 890 EH/s, the hashrate of publicly listed mining companies has grown by 99% year-over-year. This growth significantly surpasses the global network's year-over-year increase of 55%. In the same period, the total market value of these mining companies rose by 10%, equivalent to $2.4 billion. Riot Platforms saw the most significant stock price increase, with a 20% rise, while Bitfarms experienced a 9% decline. Meanwhile, hash prices have decreased by 2% since the end of May.