JPMorgan: Bitcoin hashrate fell for two straight months, easing miner competition

The Bitcoin network's hashrate declined for two consecutive months as of December, suggesting an easing of competition among miners, JPMorgan said in a report, according to CoinDesk. The report noted that mining profitability continued to fall, with block reward revenue per exahash per second (EH/s) dropping 32% year-over-year to an all-time low, and gross profits also decreasing significantly. Despite this, the stock prices of U.S.-listed Bitcoin mining firms and data center operators saw strong gains last year, with the market capitalization of these themed stocks rising by 73%.