U.S.-Listed Bitcoin Miners Reach Record 31.5% Share of Global Hashrate: JPMorgan

The share of global Bitcoin network hashrate controlled by 13 U.S.-listed mining companies tracked by JPMorgan has reached an all-time high of 31.5%, the bank reported Monday, underscoring the growing influence of American firms in the crypto mining sector.

These miners, including CleanSpark (CLSK), Hive Technologies (HIVE), and Riot Platforms (RIOT), collectively added 11 exahashes per second (EH/s) of computing power since April. Their combined hashrate has surged 99% year-on-year, compared to a 55% increase in total network hashrate over the same period.

Hashrate reflects the computational power used to validate transactions and mine new blocks on the Bitcoin network. It’s a key indicator of mining competition and network security.

Despite an unexpected 10 EH/s decline in the global hashrate during the first two weeks of June—bringing the average down to 890 EH/s—the overall trend remains upward, with a 50% year-over-year gain.

Meanwhile, hash price, or daily mining profitability, slipped 2% since the end of May, JPMorgan noted.

The market performance of these mining firms also saw notable divergence. The group’s combined market capitalization rose 10%, or $2.4 billion, in the first half of June. Riot led gains with a 20% increase, while Bitfarms (BITFU) lagged behind, declining 9%, the report added.