Bitcoin Hash Rate Rises Despite Mining Difficulty Drop

The Bitcoin network's hash rate experienced a modest 1% increase in January, reaching an average of 785 EH/s, according to a research report by JPMorgan Chase. This increase comes despite a rare 2% sequential decline in mining difficulty, which is a positive development for the Bitcoin mining economy.

The report also noted that the end-of-month average weekly hash rate was 781 EH/s, a 2% decrease from the end of December. However, it is important to note that the current network difficulty is still 25% higher than before the halving in April last year.

In terms of income, miners' average daily block reward income per EH/s was $57,200 in January, an increase of less than 1% from December. This indicates that the mining industry is still profitable despite the recent decline in mining difficulty.

Analysts have stated that this situation is relatively rare and is a mild positive for the Bitcoin mining economy. The current network difficulty is still 25% higher than before the halving in April last year, which suggests that the mining industry is still in a healthy state.