Bitcoin’s Glorious May: Profits Soar, Miners Dance, and JPMorgan Smirks

by

Bitcoin Mining Scene

What to Know: Because Facts Are So Last Year

  • Lo and behold! Bitcoin mining’s profitability took a delightful upward jog last month, whispers JPMorgan.
  • Their prized 13 mining magnates experienced a charming 19% rise in market cap since April—because who doesn’t love a good rally?
  • And oh, the daily reward gross profit leapt a sprightly 36%, leaving miners basking in the glow of their digital gold cache.

Last month, the glittering total market cap of JPMorgan’s carefully curated 13 U.S.-listed miners strutted upward: nearly 20%—a veritable carnival of Bitcoin’s rally, cloaked in market cap metrics, friends.

The Bitcoin network’s hash rate—the horsepower of the cryptographic chariots—climbed about 25 exahashes per second (EH/s), reaching a robust 897 EH/s, as if miners collectively yelled, “Look at us, we’re practically a supercomputer army!”

The hashrate (fancy term, quintessentially nerdy) measures the combined computational muscle powering transactions on the proof-of-work blockchain—a kind of cryptographic Olympic event, with some miners lifting more than others, or so it seems.

And what of profitability, you ask? Well, JPMorgan’s analysts—Reginald and Charles, no less—argued that “bitcoin miners earned an average of $51,600 per EH/s daily in rewards,” a 16% uplift from April. Because nothing says success like a hefty dollar figure, right? 💰

The daily reward gross profit, that sweet, sweet profit, skyrocketed 36% month-to-month, waving at us at a cool $27,900 per EH/s. Who knew mining could be such a profit party? 🥳

Among the shining stars and dimming stars—is IREN, shining bright with a 37% rise, and Bitfarms (BITF), who—poor souls—suffered an 8% decline. But don’t fret; some miners swam upstream, outperforming Bitcoin itself last month, earning the eternal bragging rights.

Read More

2025-06-02 17:16