Public Miners’ Market Capitalisation Hits Record $22.8 Billion

On June 15, the market value of 14 US-listed mining companies tracked by JPMorgan reached an all-time high of $22.8 billion, according to CoinDesk.

Analysts noted that in the previous two weeks, the stock prices of nearly all companies in the sample outperformed Bitcoin, as investors reacted positively to news of Core Scientific’s (CORZ) deal with CoreWeave in the AI sector.

CORZ shares surged by 117%, marking the best performance, while Argo Blockchain saw a 7% decline, the worst result. During the same period, the leading cryptocurrency fell by 3%.

US-registered organisations increased their share of the total network computing power for the second consecutive month. This occurred amid a continued decline in mining difficulty following the halving in April by 7 EH/s (1%).

“The 14 companies account for ~23.8% of the global hashrate, nearly 1% more than the previous month. This is an encouraging sign that inefficient private operators have scaled back operations following the halving of miner rewards,” the document states.

In June, presidential candidate Donald Trump held a meeting with representatives of the Bitcoin mining industry and pledged to protect mining in the US and globally.

For insights into what American politicians have said about digital assets and their reasoning, read ForkLog’s article: