The Bitcoin network hashrate increased by 2% in the first half of May, averaging 885 exahashes per second (EH/s), according to a JPMorgan report. The bank reported an improvement in mining profitability as the price of Bitcoin rose, which contributed to expanded gross margins. The hashprice, a key indicator of daily mining profitability, was noted to have risen by 13% since April. JPMorgan estimated that miners generated around $50,100 in daily block rewards per EH/s during the initial two weeks of May, reflecting a 13% increase month-over-month and a 3% year-over-year growth. U.S.-listed miners currently hold approximately 30.5% of the network hashrate, marking a 1.1% rise from April. Additionally, the market capitalization for U.S.-listed Bitcoin mining stocks tracked by the bank had increased 24%, or $4.6 billion, with Bitdeer experiencing a 43% surge compared to Greenidge's 5% decline in stock value. This data represents a positive shift for the mining sector, indicating a favorable environment and potential future growth.

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