In March, the capitalization of the largest miners fell by a cumulative $6 billion
For industry companies, the month was the worst in history in terms of stock returns
02.04.2025 - 14:30
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What’s new? Analysts at JPMorgan have reported that shares of the leading bitcoin miners cumulatively declined in value by 25% in March, causing the companies’ capitalization to fall by $6 billion. In terms of profitability, it was the worst month for companies mining the first cryptocurrency. The bank tracks a total of 14 public miners, including the largest Marathon Digital (MARA) and Core Scientific (CORZ).
What else is known? The bank’s analysts, Reginald Smith and Charles Pearce, added in their report that companies with powerful computing systems in general outperformed pure miners in terms of profitability for the second month in a row.
For example, after the Bitcoin network halving last April, which again halved the reward for mining blocks, some industry companies, to diversify revenue, began leasing their data centers to AI startups for high-performance computing.
The last anti-record of miners was set in February: companies also lost about $6 billion in total market capitalization as a result of a 20% drop in share price.
Return of the CoinShares exchange-traded fund based on miner stocks set an anti-record for 2025 with a -43% return
Shares of some industry companies included in the fund’s basket lost 50% of their value
US President Donald Trump promised to support local miners during his election campaign and insisted that all remaining bitcoins should be mined domestically.
However, miners continue to face challenges as the price of bitcoin has been falling lately and the complexity of mining has been steadily increasing. This problem was discussed again at the annual Mining Disrupt conference in Fort Lauderdale.
Marathon urges the US authorities to quickly increase mining capacity and BTC accumulations
According to the management of the largest mining company, the country’s leadership in these areas is important for maintaining national security
Bitcoin has fallen nearly 22% from the record high of $109 000 it reached on the day of Trump’s inauguration on January 20.
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