BlockBeats News, May 1st, according to CoinDesk's report, on Thursday, Wall Street bank JPMorgan Chase pointed out in a research report that in April, Bitcoin mining companies with high-performance computing (HPC) businesses underperformed BTC for three consecutive months. To reduce reliance on cryptocurrency, some Bitcoin mining companies have shifted to new areas, such as providing HPC services to the rapidly growing artificial intelligence (AI) market. With the increase in network hash rate, mining profitability in April declined, with daily block reward income decreasing by 6% compared to March. At the same time, the average hash rate in April increased by around 56 EH/s, a 6% month-over-month growth, reaching 872 EH/s, marking the second-highest consecutive monthly average network hash rate increase in history. The total market value of the 13 U.S.-listed mining stocks tracked by the bank increased by 12% compared to March, with Greenidge (GREE) showing particularly strong performance in April, with a 46% gain.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.