JPMorgan: U.S.-listed Bitcoin miners lost $6B in March, third-worst month on record

The market cap of 14 U.S.-listed Bitcoin (BTC) miners tracked by JPMorgan fell 25% in March, totaling $6 billion in losses — the third-worst monthly performance on record. According to CoinDesk, only Stronghold Digital Mining (SDIG) outperformed Bitcoin with a 2% decline, while miners with high-performance computing exposure underperformed for the second month in a row. JPMorgan noted current miner valuations are at their lowest since now-defunct crypto exchange FTX's collapse in late 2022.