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Bitcoin Miners Outperform BTC

American Bitcoin miner shares rise faster than BTC price

The United States has seen a significant growth in bitcoin miners, with larger companies listed on national stock exchanges. This increase in presence has continued over the years, with the latest growth partly due to favorable factors and big news.

Major Milestone for US Bitcoin Miners

The 14 largest bitcoin miners in the United States have reached a new milestone, according to a research report by JPMorgan. Together, they are now worth more than ever, with a collective market capital exceeding $22.8 billion as of June 15.

In the past two weeks, all 14 mining companies performed better than the largest cryptocurrency, which saw significant drops. Core Scientific had the highest price increase, with a jump of 117%, while Argo Blockchain showed the lowest result, with a decrease of -7%.

Core Scientific Collaboration Plays Key Role

The rising prices of these companies may be attributed to the announcement from Core Scientific, which has entered into a collaboration with AI company CoreWeave. This partnership is seen as an important factor in the companies’ increased value.

Global Hash Rate Continues to Decline

Meanwhile, the global hashrate has further decreased by 1%, resulting in a reduction in the difficulty of mining.

American Miners Expand Share

Bitcoin miners in the United States have expanded their share of the global hashrate this month, accounting for approximately 23.8% of the total. This represents a 1% increase compared to May, making June the second consecutive month for American companies to increase their share. According to JPMorgan, this development is a positive signal, which may indicate that less efficient miners scaled back their activities after the bitcoin halving.

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