TechFlow reported on March 17, according to CoinDesk, that a Monday research report from JPMorgan Chase (JPM) showed Bitcoin network hashrate increased by 2 EH/s in the first two weeks of March 2025, averaging 811 EH/s.
The report noted that U.S.-listed mining firms maintained approximately 30% of the network's hashrate share. Meanwhile, the average Bitcoin price declined by about 10% during the period, putting pressure on mining economics. The hashrate price—a metric measuring daily mining profitability—remained largely unchanged compared to the end of last month. In the first two weeks of March, miners earned approximately $48,300 per day per EH/s in block rewards, down 11% from February and 52% lower than after the halving event in April last year.
The combined market capitalization of the 14 U.S.-listed mining companies tracked by JPMorgan decreased by 13% month-on-month, or roughly $3 billion. Among them, Argo Blockchain (ARGO) performed best with a 1% gain, while Cipher Mining fared worst, dropping 25%. The report added that only one of the mining firms covered by the bank outperformed Bitcoin during the same period.
