JPMorgan: Bitcoin's overall computing power dropped by 3% in June, mainly due to miners coping with high temperatures and power restrictions.

According to Mars Finance, CoinDesk reported that JPMorgan's latest report shows that the average monthly computing power of the Bitcoin network is expected to drop by about 3% in June 2024, primarily due to mining farms in Texas and other areas in the United States voluntarily reducing operational loads due to high temperatures. Monitoring data from the bank indicates that the total computing power of mining companies such as Cipher, IREN, and Riot in Texas exceeds 80 EH/s. The report points out that despite the decline in computing power, the average daily block reward income for miners has risen by 7% to $55,300 per EH/s, reaching a new high since January. The total market capitalization of 13 listed mining companies has increased by 23% to $5.3 billion, with IREN, which is engaged in high-performance computing business, seeing a stock price increase of 67%.