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Nov.
5 presidential election and this provided some "hashprice relief." The hashprice is a measure of mining profitability.The total market cap of the 14 publicly listed bitcoin miners in the bank's coverage surged 52% in November to $36.2 billion, the report said.The average network hashrate rose 4% month-on-month to 731 exahash per second (EH/s), the bank noted, while mining difficulty increased 7% from October.Hashrate refers to the total combined computational power used to mine and process transactions on aproof-of-workblockchain and is a proxy for competition in the industry and mining difficulty.Bitcoin's annualized volatility rose to 62% in November, up from 42% the month before, the report added.Will Canny is an experienced market reporter with a demonstrated history of working in the financial services industry.
He's now covering the crypto beat as a finance reporter at CoinDesk.
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