US-Listed Bitcoin (BTC) Miners Hit Record 29% of Network Hashrate in October: JPMorgan
According to analysts Reginald Smith and Charles Pearce, the combined hashrate of the 14 U.S.-listed miners they track has seen a significant increase this year. The hashrate has surged by approximately 70% year-to-date, reaching 194 EH/s, compared to a 33% increase in the overall network hashrate. Currently, these U.S.-listed miners represent around 28.9% of the global network hashrate, a record high.
This growth in mining power indicates a strong presence of U.S.-based miners in the global Bitcoin network. The U.S. mining industry is gaining momentum and playing a significant role in securing the network and processing transactions. With their increasing hashrate, these miners are contributing to the overall security and decentralization of the Bitcoin network.
The rise of U.S.-listed miners reflects the country’s growing interest and investment in the cryptocurrency space. As more companies in the U.S. enter the mining sector, the competition and innovation in the industry are expected to intensify. This trend could further strengthen the position of U.S.-based miners in the global market and drive continued growth in the coming years.
