The total market capitalization of the 14 bitcoin minors (BTC) listed by the United States followed by JPMorgan (JPM) fell by 25% in March, the third monthly section never recorded, the Wall Street Bank announced on Tuesday.
Only one action, Stronfor Digital Mining (SDIG), surpassed Bitcoin (BTC) last month, noted the report. Miners with high performance computer exhibition (HPC) have underperformed pure game minors for the second consecutive month.
“We note that the evaluations today are at the lowest levels compared to the reward of the block since the collapse of the FTX in the fall of 2023”, wrote the analysts Reginald Smith and Charles Pearce.
The average hashrate of the network increased over the month to 816 exams per second (EH / S), according to the report. The hashrate refers to the total combined calculation power used to exploit and treat transactions on a blockchain of evidence of work, and is an indirect indicator of competition in the industry and mining difficulties.
The income and profitability of the mines both fell.
“We believe that Bitcoin minors earned an average of $ 47,300 per EH / S in daily rewards for blocks in March, down 13% compared to February,” said the bank. The gross profit of the daily award fell 22% per month to $ 23,000 per EH / S.
Stronghold Digital surpassed the sector last month with a drop of 2%. The exploitation of turnover (CIFR) underperformed with a crisis of 45%.
Find out more: Bitcoin Network hashrate increased in March as the mining economy is weakening: JPMorgan
