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<ul>
 <li>U.S.-listed Bitcoin miners hit a record market cap of $22.8B as of June 15, driven by strong performance and strategic partnerships.</li>
 <li>Core Scientific’s 117% rise and partnership with CoreWeave boost investor sentiment, outperforming Bitcoin’s 3% decline in early June.</li>
 <li>U.S. Bitcoin miners now control 23.8% of the global hashrate, reflecting increased efficiency and industry resilience post-halving.</li>
</ul>
<p>As of June 15, publicly traded <a href="https://cryptonewsland.com/bitcoin-miner-marathon-digital-sets-goal-to-double-hash-rate-by-2024-end/" rel="noopener noreferrer nofollow">Bitcoin miners</a> in the United States have reached a new milestone, hitting an all-time high in market capitalization. A recent report by JPMorgan reveals that the combined market cap of 14 U.S.-listed Bitcoin mining companies has soared to $22.8 billion. This significant achievement reflects the growing influence of mining companies within the cryptocurrency sector and their ability to surpass Bitcoin’s performance.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">BREAKING <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>U.S.-LISTED BITCOIN MINERS REACHED RECORD TOTAL MARKET CAP OF $22.8B IN JUNE: JPMORGAN<br><br>JPMorgan notes: <br><br>– Miners outperformed bitcoin on news of Core Scientific’s deal with AI firm CoreWeave. <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2705.png" alt="✅" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>– The 14 companies JPMorgan track, now “accounts for ~23.8% of the… <a href="https://t.co/sgPPR8ZfTY" rel="noopener noreferrer nofollow">pic.twitter.com/sgPPR8ZfTY</a></p>— BACH (@CyclesWithBach) <a href="https://twitter.com/CyclesWithBach/status/1802684670884057127?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 17, 2024</a>
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<h4 class="wp-block-heading" id="h-record-market-cap"><strong>Record Market Cap</strong></h4>
<p>The aggregate market capitalization of the 14 U.S.-listed Bitcoin mining stocks monitored by JPMorgan reached an unprecedented $22.8 billion. This surge shows the increasing prominence of U.S.-listed miners in the global Bitcoin mining industry. The report indicates the combined strength and competitive edge of these companies in the mining sector.</p>
<p>In the first half of June, almost all <a href="https://cryptonewsland.com/trump-advocates-for-all-remaining-bitcoin-to-be-made-in-usa/" rel="noopener noreferrer nofollow">U.S.-listed miners</a> outperformed Bitcoin. Core Scientific (CORZ) stood out with a remarkable 117% increase, while Argo Blockchain (ARBK) experienced a minor setback, dropping 7%. In the same period, Bitcoin saw a modest decline of 3%, highlighting the superior performance of these mining companies.</p>
<h4 class="wp-block-heading" id="h-core-scientific-s-ai-partnership"><strong>Core Scientific’s AI Partnership</strong></h4>
<p>Investor sentiment was notably buoyed by <a href="https://cryptonewsland.com/core-scientific-falls-to-78m-market-cap-bankruptcy-loom/" rel="noopener noreferrer nofollow">Core Scientific’s</a> recent partnership with artificial intelligence firm CoreWeave. This strategic collaboration has sparked optimism and contributed to the bullish trend in Bitcoin mining stocks. The alliance with CoreWeave is seen as a positive move, enhancing Core Scientific’s capabilities and market position.</p>
<p>U.S.-listed miners have steadily increased their share of the global Bitcoin network hashrate. These 14 companies now account for approximately 23.8% of the total network hashrate, marking a nearly 1% increase from the previous month. This growth indicates their expanding role in securing the Bitcoin network.</p>
<p>The second consecutive month of hashrate gains for U.S. miners suggests that inefficient private operators have scaled back their operations following the Bitcoin halving event. This trend points to improved efficiency and resilience within the industry.</p>
<h4 class="wp-block-heading" id="h-mining-difficulty-and-industry-competition"><strong>Mining Difficulty and Industry Competition</strong></h4>
<p>Mining difficulty, an indicator of competition within the industry, has continued to decline since April’s reward halving. This reduction in difficulty has allowed miners to maintain profitability despite fluctuations in the <a href="https://cryptonewsland.com/bitcoin-mining-company-boosts-hashrate-by-25-in-preparation-for-halving/" rel="noopener noreferrer nofollow">network hashrate</a>. The adjustment in mining difficulty is seen as a favorable development for the sustainability and profitability of mining operations.</p>
<h4 class="wp-block-heading" id="h-read-also">Read also</h4>
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 <li><a href="https://cryptonewsland.com/bitcoin-miner-core-scientific-bondholders-tap-legal-adviser/" rel="noopener noreferrer nofollow">Bitcoin Miner Core Scientific Bondholders Tap Legal Adviser</a></li>
 <li><a href="https://cryptonewsland.com/troubled-bitcoin-miner-core-scientific-on-bankruptcy-risk/" rel="noopener noreferrer nofollow">Troubled Bitcoin Miner Core Scientific on Bankruptcy Risk</a></li>
 <li><a href="https://cryptonewsland.com/bitcoin-mining-difficulty-reaches-unprecedented-levels/" rel="noopener noreferrer nofollow">Bitcoin Mining Difficulty Reaches Unprecedented Levels: A New All-Time High</a></li>
 <li><a href="https://cryptonewsland.com/core-scientific-falls-to-78m-market-cap-bankruptcy-loom/" rel="noopener noreferrer nofollow">Core Scientific Falls to 78M Market Cap, Bankruptcy Loom</a></li>
</ul>
<p>The post <a href="https://cryptonewsland.com/u-s-bitcoin-miners-achieve-record-market-cap-amid-industry-growth/" rel="noopener noreferrer nofollow">U.S. Bitcoin Miners Achieve Record Market Cap Amid Industry Growth</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

U.S. Bitcoin Miners Achieve Record Market Cap Amid Industry Growth

Crypto News Land

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