JPMorgan Chase: The share prices of listed Bitcoin mining companies rose significantly in November, and the overall market value increased by 52% mon

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Cointime2024/12/03 09:12

By:Cointime

a research report released by JPMorgan on Monday showed that as the price of Bitcoin broke through $99,500 last month, the stock prices of some listed Bitcoin mining companies also rose significantly.

The report pointed out that the market value of the 14 Bitcoin mining companies tracked by JPMorgan increased by 52% on a month-on-month basis, reaching $36.2 billion. Among the best-performing companies in November, Singapore's Bitdeer's stock price rose by 83% during this period to $14.27. Overall, last month, the stock prices of listed Bitcoin mining companies rose after the US election, and Argo Blockchain was the only mining company that lost money at the end of November, with its stock price falling 3% to $1.08 on Friday.

Analysts said that since the halving event in April, Bitcoin mining revenue has dropped by 50%. Although the rewards are still relatively low, the rise in Bitcoin prices has increased mining returns in November. Based on 1 EH, the daily income of Bitcoin mining companies in November increased by 24% from around $42,000 in October to $52,000. (Decrypt)

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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