gate News bot message, according to Decrypt reports, the latest report released by JPMorgan shows that March 2024 will be the worst month for Bitcoin mining performance. The total market capitalization of 14 US-listed mining companies, including MARA and Core Scientific, fell by 25%, totaling a decrease of about $6 billion. This follows another significant decline after a market capitalization drop of over 20% in February.
The report shows that the price of Bitcoin fell from $109,000 on January 20 when Trump took office to $85,000, a decline of 22%. During the same period, the increase in mining difficulty led to a decrease in profits for mining companies. Some mining companies have begun to transition to AI data center operations, but in the past two months, these transitioning companies have performed worse than those focused on mining.