JPMorgan Chase: The stock price of listed Bitcoin mining companies significantly increased in November, with an overall market value increasing by 52% month-on-month

A research report released by JPMorgan Chase on Monday showed that as the price of Bitcoin broke through $99,500 last month, the stock prices of some listed Bitcoin mining companies also significantly increased. The report pointed out that the market value of 14 Bitcoin mining companies tracked by JPMorgan Chase has increased by 52% month-on-month, reaching $36.2 billion. Among the best-performing companies in November, Singapore's Bitdeer saw its share price rise by 83% during this period to $14.27. Overall, last month, after the US election, listed bitcoin mining company stocks rose with Argo Blockchain being the only one to suffer a loss at end-November; its share price fell 3% in that month to $1.08 last Friday. Analysts said that since April's halving event, Bitcoin mining revenue has fallen by 50%. Although rewards are still relatively low, an increase in bitcoin prices led to higher returns from mining in November. Based on a base of 1 EH (exahash), daily income for bitcoin miners grew about 24% from around $42k USD in October to reach approximately $52k USD per day in November.(Decrypt)