Market Cap of U.S. Bitcoin Miners Falls Amid Price Pressure
Market Cap of U.S. Bitcoin Miners Declines
Bitcoin Miners See Market Cap Dropping Amid Price Decline
The total market value of 14 publicly-listed U.S. bitcoin miners observed by JPMorgan witnessed a significant drop of 22% during February. This decline coincided with the adverse shift in bitcoin (BTC) prices, placing additional pressure on mining profitability.
Impact of AI Innovations and Data Center Concerns
JPMorgan highlighted that miners with significant high performance computing (HPC) operations were particularly affected following the announcement of the DeepSeek artificial intelligence (AI). Concerns have arisen regarding immediate demand for data center capacity, contributing to the challenges faced by these mining entities.