The post JPMorgan Report: Bitcoin Miners Surge Despite BTC Decline appeared first on Coinpedia Fintech News
A recent report by JPMorgan reveals that investor interest is rapidly rising in Bitcoin mining following Core Scientific’s AI partnership with CoreWeave. After the announcement, the total market cap of 14 tracked miners surged by 22% ($4 billion). However, BTC saw a decline of 7%, while the S&P 500 rose by only 3%. This re-rating is undoubtedly brought about by Core Scientific’s 200 MW AI deal, which improved mining facilities’ alternatives and power access value. On the other hand, Iris Energy stands first in high-performance computing (HPC) readiness, facilitating excess power capacity beyond BTC mining. Meanwhile, JPMorgan rated Riot Platforms positively for its focus on Bitcoin, but Digital and CleanSpark encountered cost challenges.