JPMorgan: Bitcoin's overall network hash rate decreased by 3% in June, mainly due to miners coping with high temperatures and power restrictions

ChainCatcher news, according to CoinDesk, JPMorgan's latest report shows that the average monthly hash rate of the Bitcoin network in June 2024 is expected to decrease by about 3% month-on-month, mainly due to mining operations in places like Texas, USA, proactively reducing operational loads due to high temperatures. Monitoring data from the bank indicates that the total hash rate of mining companies such as Cipher, IREN, and Riot in Texas exceeds 80 EH/s.

The report points out that despite the decline in hash rate, the average daily block reward income for miners has increased by 7% month-on-month to $55,300 per EH/s, reaching a new high since January. The total market capitalization of 13 listed mining companies has increased by 23% month-on-month to $5.3 billion, with IREN, which is involved in high-performance computing, seeing a stock price increase of 67%.