According to Ki Young Ju of CryptoQuant, listed miners supported by large traditional financial (TradFi) players are coming back online, driving up Bitcoin's computing power, which is a positive sign for the fundamentals of BTC.
CryptoQuant, the founder and CEO, believes that the increase in Bitcoin computing power is an "indirect bullish signal" for institutional investors, as these institutions are supporting several listed Bitcoin mining companies.
Ju wrote in a post on X on Thursday: 'Higher computing power means stronger security, as well as better fundamentals as a means of value storage.' He added that since listed miners are largely supported by traditional financial institutions, he sees this phenomenon as a bullish signal.
Computing power is an indicator of the computational capability of a blockchain network, representing how many hash calculations can be completed per second.
According to CryptoQuant data, the computing power of Bitcoin (BTC) has rebounded by about 45% from its summer lows, rising from approximately 726 EH /s in July to around 1,050 EH /s on Wednesday.
Ju believes that this rebound indicates institutions' recognition of Bitcoin's security and long-term value; generally speaking, it is also seen as a signal of enhanced confidence among BTC miners.
However, the global computing power is still below the peak of 1,305 EH /s set in October 2025. At that time, the price of Bitcoin was over $111,000. By the opening of the U.S. stock market on Thursday, the latest trading price of Bitcoin was around $81,843.
Bitcoin computing power, Bitcoin price, five-year chart. Source: CryptoQuant.com
NIP Group Expand Bitcoin Mining Capacity
Listed Bitcoin mining companies, such as NIP Group ( NIPG ) listed on NASDAQ, continue to expand their mining capacity, further boosting Bitcoin's computing power.
According to the announcement on Tuesday, NIP Group disclosed the details of the third batch of rack-mounted asset purchase agreements, which will involve the acquisition of approximately 4.47 EH /s of deployed Bitcoin mining hardware.
After the transactions are completed, these machines are expected to immediately increase the bitcoin production of this mining company. The total computing power of the three batches of transactions is expected to reach 13.85 EH /s.
According to Ziven data, NIP Group is currently the 16th largest listed Bitcoin mining company, with an operating computing power of 3.11 EH /s. Bitdeer ranks first with 79.9 EH /s.
Top public Bitcoin miners by operating hashrate . Source : Ziven.io
According to Yahoo Finance data, the stock price of NIP Group fell by 6.8% on Wednesday, closing at $6.10, with the cumulative decline over the past year expanding to 86%.
The stock prices of other large Bitcoin mining companies also fell, as the U.S. stock market experienced the most severe selling pressure since July on Wednesday. The stock prices of TeraWulf, Core Scientific, Cipher Mining, and IREN all declined by about 12%, which is higher than expected inflation data and put pressure on Bitcoin mining companies and AI infrastructure companies.
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