Bitcoin Miners Gain $4.5 Billion in Market Capitalization in 2025

Bitcoin mining companies have started 2025 positively, with 12 out of 14 stocks monitored by JPMorgan outperforming Bitcoin in the first two weeks. Key metrics show a strong mining sector.

• Global network hashrate increased by 2% month-to-date to an average of 793 EH/s, up 51% from January 2024.
• Hashprice remained stable with a slight drop of less than 1% since December.
• Miners earned approximately $54,900 daily block reward revenue per EH/s, reflecting a 2% decline from December.

US Miners Gain $4.5B in Just Two Weeks

• The total market capitalization of 14 US-listed miners rose by 16%, or $4.5 billion, in early 2025.
• Riot Platforms (NASDAQ: RIOT) gained 32%, while Bit Origin Ltd (NASDAQ: BTOG) fell over 30%.
• Cathedra Bitcoin (TSXV: CBIT) surged 25%, and Bit Digital Inc (NASDAQ: BTBT) and Digihost Technology Inc (NASDAQ: DGHI) recorded gains of 23.90% and 23.33% respectively.
• The combined market cap of 31 publicly traded bitcoin mining firms is $44.09 billion, with 26 firms showing positive stock movement against the USD.

Bitcoin 144% Year-on-Year Growth Fuels Optimism

• Bitcoin has risen 61% since the April 2024 halving, 51% since the November US presidential election, and 144% year-on-year.
• Publicly listed miners hold record reserves of over 92,473 BTC as of December 2024.
• Some firms are diversifying into high-performance computing and AI hosting.
• Despite hurdles with Bitcoin's price below $100,000, miner stock performance indicates confidence in industry resilience.
• Core Scientific (Nasdaq: CORZ) experienced a minor decline of 0.06%, with estimated revenue of $97,790,600.