Bitcoin Mining Profits Surge 36% in May, Driven by Increased Hashrate and Market Value

JPMorgan Chase’s analysis reveals a significant surge in Bitcoin mining profits during May, with daily earnings increasing by 36%. This upward trend is attributed to an overall 19% increase in the sector’s market value. Key factors driving this growth include rising hashrate and improved mining profitability, according to experts from JPMorgan. The report highlights the positive impact of these developments on Bitcoin mining companies, with Bitdeer demonstrating notable gains in market capitalization. JPMorgan’s analysts estimate a 13% increase in daily block revenue compared to the previous month, which suggests increased profit for miners.