JP Morgan: U.S. Bitcoin miners now control 29% of global hashrate

JP Morgan reported that U.S.-listed Bitcoin (BTC) mining firms now account for about 29% of the global hashrate, nearly doubling from a year ago, according to CoinDesk. The combined hashrate of 14 tracked companies has surged 95% year-over-year to 244 EH/s, compared to a 45% rise in the overall Bitcoin network hashrate. The report also noted that BTC's hashrate increased 6% in February, while daily mining profitability fell 13% since January due to rising hashrate and a slight drop in BTC's price.