PANews reported on January 5th that, according to a report by CoinDesk, a JPMorgan report released on Monday showed that Bitcoin network hashrate declined for the second consecutive month in December 2025. Analysts at the firm noted, "The monthly average network hashrate, a key indicator of industry competitiveness, fell by 30 EH/s month-over-month in December, a drop of 3%, bringing the average to 1045 EH/s." Mining profitability also declined. Analysts estimated that miners earned an average of $38,700 per EH/s per day in block rewards last month, "a 7% decrease from November and a 32% year-over-year decrease, the lowest level on record." The report also stated that gross profit from daily block rewards also declined last month, falling 9% month-over-month to $17,100 per EH/s.

By the end of 2025, the total market capitalization of the 14 U.S.-listed Bitcoin mining and data center operators tracked by JPMorgan Chase rose to $48 billion, a 73% increase for the year. Hut 8 (HUT) performed best last month, with its stock price rising 2%; CleanSpark (CLSK) underperformed, with its stock price falling 33%. The report adds that although only two companies outperformed Bitcoin in December, for the whole year, nine of the 14 companies outperformed Bitcoin, with IREN (IREN) and Cipher Mining (CIFR) leading the pack.