Will Canny is a finance reporter at CoinDesk.
The hashprice rose almost 30% in the first two weeks of the month as bitcoin mining profitability improved, the report said.mining economics improved in the first half of November as the hashprice rose, JPMorgan said in a research report on Monday.
The hashprice, a measure of mining profitability,"increased 29% since the end of October as the BTC rally outpaced network hashrate growth and transaction fees increased as a percentage of the block reward," analysts Reginald Smith and Charles Pearce wrote. The total market cap of the mining stocks the bank tracks surged 33%, or around $8 billion, from Oct. 31 to Nov. 15 owing to"BTC gains and broader crypto optimism post election," the authors wrote.The 14 U.S.-listed miners in the bank's coverage now account for about 28% of the global network, and their share of the network hashrate remains at record highs..
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