TechFlow, April 16 — According to CoinDesk, a recent JPMorgan research report showed that Bitcoin mining equities delivered mixed performance during the first two weeks of April, with pure-play mining firms outperforming those involved in high-performance computing (HPC). Only MARA Holdings and CleanSpark outperformed Bitcoin, while HPC-related miners including Bitdeer, TeraWulf, IREN, and Riot Platforms lagged behind. The report noted that network hashrate growth has exceeded the expansion pace of U.S. miners, and combined with falling Bitcoin prices, has pressured mining economics. The total market capitalization of U.S.-listed mining companies declined by 2% to $16.9 billion, and miners’ daily block reward revenue dropped 12% from March levels. Currently, U.S. listed mining firms are trading at approximately 1.2 times the four-year block reward opportunity ratio, the lowest level in over two years.
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