Bitcoin listed workers in the United States threw $ 5 billion in the maximum market, amid 13 % decrease in revenues
The common market value of 14 mining companies from the Bitcoin menu listed in the United States decreased by 25 % in March, granting about $ 5 billion of investor wealth.
This represents the third monthly decline in the worst of the group since JP Morgan began tracking the sector.
Follow the decrease a wider decrease in mining profitability, driven by bitcoin bonuses and increased competition.
Only one mine, Stronghold Digital Mining (SDIG), managed to outperform Bitcoin itself last month.
Other players with high -performance computing (HPC) were worse than those who focus only on bitcoin mining, and continuing a two -month trend.
Revenue for each EH/S decreased by 13 % in March
JPMorgan Regingald Smith and Charles Pearce said that Bitcoin miners got an average of $ 47,300 per second (EH/S) in daily reward revenues in March. This represents a 13 % decrease from February.
The profitability decreased more severely, with a total daily bonus of the daily blocks by 22 % per month to $ 23,000 per EH/s.
It reflects the low revenues and margins that are the most increasing pressure on miners as half an event approaches half, reducing the incentives that operate their business models.
The mining has also increased, as the average network fragmentation rose to 816 EH/S in March.
The higher retail signals have increased the competition via Bitcoin, which increased the pressure of the margins for the current Doom.
LED Digital StrongHold, blades mining decreased by 45 %
Of the 14 mining stocks, Stronghold Digital Mining was the only one to win Bitcoin’s performance in March, where he recorded a relatively 2 % decrease.
On the other hand, cifin mining (CIFR) suffered from a sharp loss, as it decreased by 45 % during the month.
The report indicated that miners who suffer from the exposure of HPC-operations that have varied in computing for artificial intelligence, machine learning, or data centers-they fail to bile bitcoin mines for the second month in a row.
This weakness raised questions about the elasticity of diversification strategies in the market, as the price of bitcoin and the difficulty of the network remain the dominant forces.
Ratrictions near a decrease after FTX
Jpmorgan’s analysts have highlighted that the sector is currently trading in its lowest evaluation in relation to the bonus of the bloc since the FTX collapsed in late 2023.
This indicates widespread caution from the investor and reducing confidence in the long -term profitability of mining processes.
Bitcoin’s prices did not do little in the sector to support the sector.
Although the cryptocurrency itself decreased less than the mining shares, the declining trend in the rewards and the increase in operating costs affected the companies circulating publicly.
On the horizon, it is waving the half pressure of workers from miners
The next half – expected in April – will reduce block bonuses by half, affecting mining workers ’revenues.
This may add more pressure on companies that are already struggling with lower profitability and increased network difficulty.
Without great increases in bitcoin or energy cost discounts, mining workers may face continuous margin pressure.
As a result, the market participants closely monitor the signs of the unification of the industry or the operational restructuring, especially among companies with full benefit.
Bitcoin listed workers in the United States threw $ 5 billion from the maximum market, amid 13 % decrease in revenue first appeared on Invezz
