Even miners selling high-performance computing to AI models are under strain, according to JPMorgan analysts.
Bitcoin (BTC) mining stocks are struggling as declining cryptocurrency prices add further pressure to business models strained by the Bitcoin network’s April halving, according to a JPMorgan research note shared with Cointelegraph.
Mining stocks tracked by JPMorgan collectively shed 22% in market capitalization in February as Bitcoin’s falling price eroded mining economics, the March 3 report said.
Mining stocks such as Riot Platforms (RIOT), Bitdeer (BTDR), Marathon Digital (MARA) and Core Scientific (CORZ) reported their fourth-quarter 2024 earnings in February.
