{"id":116984,"date":"2025-09-03T15:10:11","date_gmt":"2025-09-03T15:10:11","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/116984\/"},"modified":"2025-09-03T15:10:11","modified_gmt":"2025-09-03T15:10:11","slug":"bitcoin-miners-stocks-hit-new-highs-in-august-thanks-to-ai-jp-morgan","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/116984\/","title":{"rendered":"Bitcoin Miners’ Stocks Hit New Highs in August, Thanks to AI: JP Morgan"},"content":{"rendered":"\n

The market cap of top publicly-traded Bitcoin<\/a> miners soared last month, according to JP Morgan analysts in a note Tuesday, as some of the industry’s largest companies expanded into high-powered computing.\u00a0<\/p>\n

The analysts wrote that the aggregate market cap of the 13 U.S.-listed miners hit a record high of over $39 billion in August.<\/p>\n

The bank tracks miners Hut 8, Core Scientific, TeraWulf, IREN, and Riot, which all trade on stock exchanges.\u00a0<\/p>\n

Mining<\/a> the world’s largest cryptocurrency by market value has grown increasingly difficult and expensive. The process has also generated smaller rewards since last year’s halving<\/a> cut the Bitcoin earned from 6.250 to 3.125. These trends have hurt profitability, even as Bitcoin’s price has risen, prompting miners to look for new revenue sources.\u00a0<\/p>\n

Miners have often had to sell coins or branch into different industries\u2014like high-performance computing for artificial intelligence\u2014to cover operational costs.\u00a0<\/p>\n

But branching out into AI data centers is difficult, requiring more complex heating, ventilation, and air conditioning systems than those for Bitcoin mining, experts have told<\/a> Decrypt. \u00a0<\/p>\n

Still, some miners have already announced initiatives to convert facilities with Hut 8 last month revealing plans<\/a> to develop 1.53 gigawatts of new capacity across four U.S. sites.\u00a0<\/p>\n

The new sites will provide energy for non-mining purposes, the company said.\u00a0<\/p>\n

Bitcoin was recently trading at $111,285, according<\/a> to cryptocurrency markets data provider CoinGecko, after rising 2% over the past 24 hours. BTC is down more than 10% after reaching an all-time high of $124,285 last month.\u00a0<\/p>\n

Bitcoin Miner Bitdeer Aims to Expand US Rig Manufacturing Amid Trump Tariff Headwinds<\/a><\/p>\n

JP Morgan analysts noted in the Tuesday report noted the declining profitability compared to July as the network hashrate reached record highs but the coin slumped to near its current levels.<\/p>\n

In a comment to Decrypt, Darcy Daubaras, CFO of Hive Digital Technologies (HIVE), said that the company’s “dual business model combining Bitcoin mining and high-performance computing” aims to benefit from “two rapidly expanding digital industries.”<\/p>\n

“In practical terms, this means HIVE is scaling production of Bitcoin much like a growth business scales output of a core product,” he wrote. “Each incremental exahash increases daily production and revenue potential, while our HPC division provides a complementary revenue stream that grows with demand for compute power. “<\/p>\n

UPDATE (September 2, 2025, 6:20 p.m. ET): Adds HIVE CFO comment.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"The market cap of top publicly-traded Bitcoin miners soared last month, according to JP Morgan analysts in a…\n","protected":false},"author":2,"featured_media":116985,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[62,276,277,3571,49,48,65413,9564,25515,61],"class_list":["post-116984","post","type-post","status-publish","format-standard","has-post-thumbnail","category-artificial-intelligence","tag-ai","tag-artificial-intelligence","tag-artificialintelligence","tag-bitcoin","tag-ca","tag-canada","tag-core-scientific","tag-data-centers","tag-jp-morgan","tag-technology"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/116984","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=116984"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/116984\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/116985"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=116984"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=116984"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=116984"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}