JPMorgan Reports 22% Decline in Market Capitalisation of US Public Miners

The market capitalisation of 14 public miners in the United States fell by 22% in February, according to analysts at JPMorgan. Experts attributed this to the decline in Bitcoin’s price and the increase in mining difficulty, as reported by CoinDesk citing the report.

The average daily reward for miners was $54,300 per EH/s, a decrease of 5% compared to January. The average gross profit fell by 9% to $29,500 per EH/s.

In February, the network’s hash rate increased by 3% to reach 810 EH/s. Mining difficulty rose by 2% from January. These factors exert pressure on the mining economy, analysts emphasised.

The largest losses were recorded by Greenidge Generation, whose market capitalisation decreased by 36%. Core Scientific proved the most resilient, losing 9%.

The report also highlights the HPC segment. Miners operating in this area suffered due to the announcement of the DeepSeek AI project launch and uncertainty regarding future demand for data centre capacities.

On February 23, Bitcoin mining difficulty fell by 3.15% to 110.57 T. The index changed for the second time this year, decreasing from the record high of 114.17 T.