U.S Bitcoin miners see 22% market cap drop in February

The combined market cap of 14 publicly listed U.S. Bitcoin (BTC) miners tracked by JPMorgan fell 22% in February as Bitcoin prices declined and mining profitability weakened, according to CoinDesk. Miners with high-performance computing exposure also dropped after DeepSeek’s AI announcement raised concerns about near-term data center demand. JPMorgan estimated that average daily block reward revenue per EH/s fell 5% to $54,300, while gross profit declined 9% to $29,500 per EH/s. The average network hashrate increased 3% to 810 EH/s, and mining difficulty rose 2% from January. Core Scientific’s stock declined 9%, while Greenidge Generation saw a 36% drop, according to the report.