JPMorgan Reports 22% Decline in US Public Miners Market Capitalization

According to analysts from JPMorgan, the market capitalization of 14 U.S. public miners dropped by 22% in February. The experts attributed this decline to the decreasing price of Bitcoin and an increase in mining difficulty, as reported by CoinDesk referencing the report.

On average, daily rewards for miners stood at $54,300 per EH/s, marking a 5% decrease from January. The average gross profit fell by 9%, reaching $29,500 per EH/s.

In February, the network’s hash rate rose by 3%, hitting 810 EH/s. Mining difficulty saw a 2% increase since January. These factors are exerting pressure on mining economics, the analysts noted.

The most significant losses were recorded by Greenidge Generation, with the company’s market capitalization falling by 36%. Core Scientific was the most resilient, experiencing a decline of 9%.

The report also highlighted the high-performance computing (HPC) segment. Miners operating in this area faced challenges due to the announcement of the launch of the AI project DeepSeek and uncertainty regarding future demand for data center capacities.

It’s worth mentioning that on February 23, Bitcoin mining difficulty decreased by 3.15%, bringing it down to 110.57 TH. This was the second adjustment so far this year, marking a drop from the record high of 114.17 TH.