JPMorgan Chase (JPM) said in a research note on Monday that the bitcoin (BTC) mining economy improved in the first half of November as the hash price rose. "Since the end of October, the hash price has risen by 29% as BTC's rally outpaced the growth of the network's hash rate and transaction fees as a percentage of block rewards have increased." The report said that the network hash rate has risen by 2% so far this month to an average of 718 exhashes per second (EH/s). Hash rate refers to the total computing power used to mine and process transactions on the proof-of-work blockchain, and is representative of industry competition and mining difficulty. The 14 US-listed miners covered by the bank currently account for about 28% of the global network, and its share of network hash rate remains at an all-time high.