{"id":50511,"date":"2025-10-01T13:31:49","date_gmt":"2025-10-01T13:31:49","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=50511"},"modified":"2025-10-01T13:31:49","modified_gmt":"2025-10-01T13:31:49","slug":"bitcoin-miners-market-cap-hit-a-record-in-september-jpmorgan","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=50511","title":{"rendered":"Bitcoin Miners’ Market Cap Hit a Record in September: JPMorgan"},"content":{"rendered":"
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The total market cap of the fourteen U.S-listed bitcoin (BTC) miners that JPMorgan tracks exceeded $50 billion for the first time last month, the Wall Street bank said in a report Wednesday.<\/p>\n

The combined market cap of these mining stocks rose 43% month-on-month to $56 billion in September, the bank noted.<\/p>\n

The move was driven by a number of announcements, including Cipher Mining’s (CIFR) HPC colocation deal<\/a> with Fluidstack, and IREN’s (IREN) expansion<\/a> of its Cloud Services business, the report said.<\/p>\n

The BItcoin hashrate also rose. The monthly average network hashrate “increased ~82 EH\/s (+9%) m\/m to an average of 1,031 EH\/s in September,” analysts Reginald Smith and Charles Pearce wrote.<\/p>\n

The hashrate<\/a> refers to the total combined computational power used to mine and process transactions on a proof-of-work<\/a> blockchain.<\/p>\n

Mining profitability fell for the second month in a row as the hashrate exceeded 1000 EH\/s. The bank’s analysts estimated that miners “earned an average of $49,700 per EH\/s in daily block reward revenue in September, down 10% from August.” Daily block reward gross profit also slumped 17% from the month prior.<\/p>\n

Bitfarms (BITF) outperformed the group with a 110% gain, while Cango (CANG) underperformed with an 11% decline.<\/p>\n

Twelve of the fourteen miners in the bank’s coverage outerformed bitcoin in September, the report added.<\/p>\n

Read more: Cipher Is the Latest Bitcoin Miner to Pivot to AI; Price Target Raised to $16: Canaccord<\/span><\/a><\/em><\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The total market cap of the fourteen U.S-listed bitcoin (BTC) miners that JPMorgan tracks exceeded $50 billion for the first time last month, the Wall Street bank said in a report Wednesday. The combined market cap of these mining stocks rose 43% month-on-month to $56 billion in September, the bank noted. The move was driven […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-50511","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/50511","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=50511"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/50511\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=50511"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=50511"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=50511"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}