JPMorgan: "US Bitcoin (BTC) Mining Companies Expected to Continue Increasing Hash Rate Market Share"
Summary
- JPMorgan forecasted that US-listed Bitcoin (BTC) mining companies will continue to increase their network hash rate market share this year.
- Major mining companies are focusing on securing their own power sources and developing exclusive mining chips to reduce operational costs, the bank stated.
- US mining companies' hash rate market share increased compared to the previous year, and this upward trend is expected to continue this year, according to the report.
According to crypto asset (cryptocurrency) specialized media The Block on the 13th (local time), JPMorgan forecasted that US-listed Bitcoin (BTC) mining companies will continue to increase their network hash rate share (market share) this year.
JPMorgan explained, "Major mining companies are focusing on securing their own power sources and developing exclusive mining chips to reduce operational costs," adding, "Last month, Marathon Holdings acquired a Texas wind power plant, and BitDeer acquired a Canadian gas power plant project."
Furthermore, they analyzed, "Last year, mining companies' hash rate market share increased by 9 percentage points from 20% in the previous year to 29%, and this trend is expected to continue this year."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
