What to know:
- The Bitcoin network’s hashrate tiptoed up by a modest 2% in the early May haze, as if reluctant to disturb the cosmos.
- JPMorgan, that staid oracle, notes the miners’ fortunes swelling like spring rivers, as bitcoin’s price blossoms and margins widen.
- The hashprice—miners’ daily manna from computational heaven—soared a cheeky 13% since April’s dull days.
Imagine a sprawling, invisible engine — the Bitcoin network’s hashrate — swelling by 2%, a breath, a sigh, to an ethereal 885 exahashes per second. JPMorgan whispers of this quietly triumphant ascent, like a hesitant dawn.
Hashrate, that grand total of digital toil, is the pulse of a secretive world where numbers battle in shadows, and proof-of-work is the cryptic hymn miners chant to the blockchain gods. It measures not just power but the fierce dance of competition and the rising stakes of difficulty.
In May, miners, those modern-day gold seekers, found their fortunes gently rising as bitcoin’s price climbed and margins widened, like a slowly unfurling flower under uncertain skies.
That sacred figure, the hashprice, daily bread for miners, lifted itself by 13% from April, a quiet herald of better days, at least according to the bank’s cheerful scribes.
“We estimate miners earned roughly $50,100 per exahash each day,” proclaimed analysts Reginald Smith and Charles Pearce, as if reporting from some distant cryptic monastery. This is a 13% boost from last month, and a modest 3% nod to last year’s toil.
Across the digital frontier, U.S.-listed miners cling stubbornly to their slice of this vast cake—about 30.5% now, a slight 1.1% rise since April. Persistence, or mere stubbornness?
The market cap of the 13 tracked U.S. mining stocks ballooned by 24%, adding a hefty $4.6 billion—enough to make any banker crack a wry smile.
In this odd parade, Bitdeer (BTDR) danced ahead with a sprightly 43% gain, while Greenidge (GREE), ever the wallflower, slipped back 5%, proving once again that not all that glitters is bitcoin.
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2025-05-19 17:11