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JPMorgan: Publicly listed Bitcoin mining companies saw significant stock price increases in November, with an overall market capitalization growth of 52% month-over-month.

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#Bitcoin
$BTC
Odaily
654Words
Dec 3, 2024

Odaily Planet Daily reported that a research report released by JPMorgan on Monday showed that as Bitcoin's price surpassed $99,500 last month, the stock prices of several listed Bitcoin mining companies also significantly increased.


The report pointed out that the market capitalization of the 14 Bitcoin mining companies tracked by JPMorgan grew by 52% month-on-month, reaching $36.20 billion. Among the companies that performed best in November, Singapore's Bitdeer saw its stock price rise by 83% during this period, reaching $14.27. Overall, last month, the stock prices of listed Bitcoin mining companies increased following the U.S. elections, with Argo Blockchain being the only mining company to incur losses at the end of November, as its stock price fell by 3% during the month to $1.08 last Friday.


Analysts noted that since the halving event in April, Bitcoin mining revenues have decreased by 50%. Although the rewards remain relatively low, the rise in Bitcoin prices has led to an increase in mining returns for November. Based on 1 EH, the daily revenue of Bitcoin mining companies in November grew by 24% from around $42,000 in October to $52,000. (Decrypt)

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