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JPMorgan Chase: The share prices of listed Bitcoin mining companies rose significantly in November, and the overall market value increased by 52% month-on-month.
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2024-12-03 16:32 5,571
Golden Finance reported that a research report released by JPMorgan Chase on Monday showed that as the price of Bitcoin exceeded US$99,500 last month, the share prices of some listed Bitcoin mining companies also rose significantly. The report noted that the market value of the 14 Bitcoin mining companies tracked by JPMorgan Chase increased by 52% month-on-month to $36.2 billion. Among the best-performing companies in November, Singapore-based Bitdeer shares rose 83% to $14.27 during the period. Overall, listed Bitcoin miners have seen their share prices rise last month following the U.S. election, with Argo Blockchain the only miner to post a loss at the end of November, with its shares falling 3% for the month to $1.08 on Friday. Analysts say Bitcoin mining revenue has dropped by 50% since the April halving event. Although rewards are still relatively low, rising Bitcoin prices have led to higher mining returns in November. On a basis of 1 EH, daily revenue for Bitcoin miners increased 24% to $52,000 in November from around $42,000 in October. (Decrypt)
Keywords: Bitcoin
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