Bitcoin Mining Data Brightens Up in Early November – Miners Finally Catch a Break!

In a plot twist worthy of a Hollywood blockbuster, Bitcoin mining economics made a major comeback in early November, leaving miners grinning wider than their cooling fans. A recent JPMorgan report (Nov. 18) revealed that hashprice—a key measure of mining profitability—shot up 29% since the end of October. It’s like Bitcoin mining decided to ditch the drama and finally throw its miners a bone.

Analysts Reginald Smith and Charles Pearce credited Bitcoin’s price surge, which outpaced the hash rate growth, and a juicy spike in transaction fees. Translation? Miners are making it rain crypto rewards.

Even mining stocks got in on the action, with their market value ballooning 33% (or $8 billion) between Oct. 31 and Nov. 15. The cause? Bitcoin’s gains, election-fueled crypto optimism, and maybe a sprinkle of sheer luck.

14 U.S.-listed Bitcoin miners tracked by JPMorgan now make up a solid 28% of the global Bitcoin mining network

Bitcoin has been on a tear, climbing 30% after Donald Trump’s election win earlier this month. Clearly, nothing says “crypto confidence” like a presidential nod.

Meanwhile, the Bitcoin network’s hash rate hit a jaw-dropping 718 exahashes per second (EH/s)—a 2% rise in November alone. And U.S. miners? They’re taking a victory lap, now controlling a hefty 28% of the global network.

Picture a bunch of American miners huddled around their rigs, high-fiving and whispering, “We’re dominating, baby!” as they Google bulk orders for ASICs.

So, here’s to November—the month Bitcoin mining stopped sulking, miners got their groove back, and hashprice proved it’s the MVP of the blockchain grind. Keep those rigs humming, folks! 🚀💻💸

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Madeline

I have been drawn to technology and science fiction since I was a child. Studying IT has drawn me to the world of cryptocurrencies, where I have been working since 2014. I have learned a lot since then. And I still have a lot to learn. What fascinates me most about them is that they connect so many worlds together and the possibility of free choice. Without limits.