Bitcoin Hashrate Climbs 4% in Early August, U.S. Miners Reach Record Share

The Bitcoin network hashrate jumped in the first half of August, with U.S.-listed miners capturing a record slice of global mining power.

• Bitcoin network hashrate rose 4% to 937 EH/s in early August.
• U.S.-listed miners now control 33.6% of global hashrate, a record high.
• Daily mining revenue per EH/s slipped 2% to around $56,300.
• Hashprice and profitability fell slightly, despite sector growth.
• TeraWulf surged 74%, boosted by HPC exposure and a Google-backed deal.

JPMorgan’s latest research report shows that Bitcoin’s network hashrate averaged 937 EH/s in the first two weeks of August — up 4% since July. The hashrate, a measure of computational power securing the network, reflects both rising competition among miners and growing network security.

The bank highlighted that the 13 U.S.-listed miners it tracks increased their combined hashrate by 94% year-over-year, far outpacing the broader network’s 48% gain. This allowed U.S. miners to capture 33.6% of global hashrate, the highest level on record and a sign of the sector’s growing dominance.

Despite rising power, profitability saw pressure. Analysts estimated miners earned about $56,300 in daily block rewards per EH/s, a 2% dip from last month, while the hashprice — daily mining profitability — also slipped by the same margin.

Meanwhile, market performance diverged among top players. The combined market cap of covered mining firms climbed 6% to $33.7 billion, but results varied: TeraWulf gained 74% in the first half of August after announcing a colocation deal with Fluidstack and securing backing from Google, while Riot Platforms fell 16%, underperforming the sector.Final thought:
U.S.-based miners are rapidly consolidating their influence over the Bitcoin network, even as profitability faces short-term pressure. With HPC exposure and institutional partnerships fueling growth, the competitive landscape is tilting sharply in favor of well-capitalized players.