- JPMorgan Chase has published a report on public miners.
- Their share in the global hashrate reached 29%.
- Capitalization fell by 1%, hash price by 13%.
- This is due to the decline in the rate of the first cryptocurrency.
The share of 14 mining companies whose shares are traded on the US stock market in the global hashrate reached 29% in February 2025, CoinDesk reports , citing a report from JPMorgan Chase experts.
Over the year since February 2024, this figure has grown by 95% to 244 EH/s. At the same time, the total hashrate of the Bitcoin network has increased by 45% over the same period, the report emphasizes. This month alone, the figure has increased by 6%.
At the same time, this puts pressure on counterparties in the mining sector, since the growth of the hash rate, the total computing power of the ecosystem participants, is accompanied by a drop in the rate of the first cryptocurrency.
As a result, the price per hash, a measure of mining profitability, has fallen 13% since the end of January 2025. The average miner income for processing blocks in February was $53,600, down 6% from the previous month.
By comparison, in September 2024, before Bitcoin's rally on the back of Donald Trump's victory in the US presidential election, this figure fell for three months. It eventually dropped to $42,100 in a day . In October, the price per hash began to rise .
The drop in indicators affected the overall capitalization of public miners. It decreased by 1%.
Traditionally, experts identified a leader and an outsider among mining companies. Thus, the company IREN was noted for its positive dynamics, since the beginning of February its shares have grown by 27%, to $13.3 at the peak:
The worst dynamics, in turn, was demonstrated by the company Greenidge Generation. Its shares fell by 20%:
Earlier, we reported that miner Bitmain reduced its stake in Core Scientific amid the growth of the latter's stock price.