JPMorgan: Bitcoin network hashrate fell for second consecutive month in December

Mining profitability also declined last month, with daily block reward revenue down 7%, and 32% year-on-year. What to know : JPMorgan said the Bitcoin network hashrate fell for a second straight month in December, signaling easing competition among miners. Mining profitability continued to slide, with block reward revenue per exahash hitting a record low, down 32% year over year, alongside weaker gross profits. Despite weakness last month, U.S.-listed bitcoin miners and data center operators posted strong gains in 2025, with the group’s market cap up 73% for the year.