Bitcoin News

Bitcoin Hashrate Surges 4% in Early August, JPMorgan Reports

by Crypto Hobby

Updated August 30, 2025

Bitcoin Hashrate Surges 4% in Early August, JPMorgan Reports

The Bitcoin network experienced a significant uptick in its hashrate, climbing 4% in the first two weeks of August to an average of 937 exahashes per second (EH/s). This increase, as reported by Wall Street bank JPMorgan, indicates a growing computational power dedicated to securing the network and processing transactions.

Key Takeaways

Bitcoin network hashrate increased by 4% in the first two weeks of August.
U.S.-listed miners saw a 94% year-on-year hashrate increase, now representing 33.6% of the global total.
Daily mining profitability (hashprice) saw a slight decrease of 2%.
The market capitalization of covered Bitcoin mining companies grew by 6% in August.

Network Hashrate Growth

JPMorgan's research highlights a robust expansion in the Bitcoin network's computational power. The hashrate, a crucial metric reflecting the total processing power used for mining and transaction validation on proof-of-work blockchains, serves as an indicator of industry competition and mining difficulty. The 4% rise in the early part of August suggests increased participation and investment in Bitcoin mining operations.

U.S. Miners Lead the Charge

Notably, the combined hashrate of 13 U.S.-listed miners tracked by JPMorgan surged by an impressive 94% year-on-year. This growth significantly outpaced the overall network hashrate increase, leading to U.S. miners now accounting for a record 33.6% of the global hashrate. This trend underscores the growing dominance and investment in the North American Bitcoin mining sector.

Mining Profitability and Market Performance

Despite the rise in hashrate, daily block reward revenue per EH/s experienced a slight dip of 2% compared to the previous month, settling around $56,300. Consequently, the hashprice, a measure of daily mining profitability, also fell by 2% from its July levels. However, the overall market sentiment for mining companies remained positive, with the total market capitalization of the companies covered by JPMorgan increasing by 6% to $33.7 billion in August. Companies with exposure to high-performance computing (HPC) demonstrated stronger performance, with TeraWulf (WULF) seeing a substantial 74% gain following a colocation deal and investment from Google. In contrast, Riot Platforms (RIOT) experienced a 16% decline during the same period.