Bitcoin Network's hashrate rose 4% in the first two weeks of the month to an average of 937 seconds (EH/s).
Hashrate refers to the total computing power used to mine and process transactions on the Proof of Work Blockchain, a proxy for competition and mining difficulties in the industry.
Bank trucks, which combine the hashrates of 13 US listed miners, rose 94% year-on-year, almost double the 48% increase in network hashrates. US miners currently account for 33.6% of global figures, the highest level on record.
“We estimate that the miners have earned ~$56,300 in daily block reward revenue per EH/s in the first two weeks of the month.
Hashpris, a measure of daily mining profitability, also fell 2% since the end of July, the report said.
The market capitalization of Bitcoin mining companies covered by banks added $33.7 billion to 6% this month. After Terawulf (WULF) announced its colocation deal with Fluidstack and an investment from Internet Giant Google (GOOG), operators with high performance computing (HPC) exposure have surpassed.
Terrahulv exploded high in the first two weeks of August, earning a 74% profit. Riot Platforms (Riot) is performing poorly with a 16% drop, the report added.
read more: Bitcoin mining profitability rose 2% in July amid a BTC price rally, Jeffries says
