Bitcoin Miners Suffer Brutal March: Worst Valuations Since FTX Collapse!

Bitcoin Miners Suffer Brutal March: Only One Stock Beat BTC Last Month!

The Wall Street bank stated Tuesday that the March market cap decline of the 14 U.S.-listed Bitcoin (BTC) miners that JPMorgan (JPM) tracks fell by 25%, marking the third-worst monthly performance on record. According to the data, just one stock, Stronghold Digital Mining (SDIG), beat Bitcoin last month. For the second consecutive month, miners exposed to high-performance computing (HPC) fared worse than pure-play miners.

We note valuations today are at the lowest levels relative to the block reward since the collapse of FTX in the Fall of 2023,

analysts Reginald Smith and Charles Pearce

Mining Competition Heats Up: Bitcoin Hash Rate Hits 816 EH/s in March!

According to the data, during the month, the average network hash rate increased slightly to 816 exahashes per second (EH/s). A proof-of-work blockchain’s hash rate, which is a measure of industry rivalry and mining difficulty, is the total amount of computing power needed to mine and process transactions.

We estimate bitcoin miners earned an average of $47,300 per EH/s in daily block reward revenue in March, down 13% from February,

the bank

At $23,000 per EH/s, the daily block reward gross earnings decreased 22% month over month.

For more up-to-date crypto news, you can follow Crypto Data Space.