JPMorgan: U.S. Bitcoin miners see 20% market cap jump in May

JPMorgan reported that the combined market cap of 13 U.S.-listed Bitcoin (BTC) miners rose nearly 20% in May, driven by Bitcoin’s rally and improved mining profitability, according to CoinDesk. The network hashrate averaged 897 EH/s, while miners earned $51,600 per EH/s in daily rewards—up 16% from April. Seven companies outperformed Bitcoin, with IREN leading and Bitfarms lagging.