According to reports from Wu, JPMorgan released a report stating that the first quarter of 2025 is 'one of the best quarters to date' for publicly listed Bitcoin mining companies in the United States. Five mining companies achieved a total gross profit of $2 billion, with an average gross margin of 53%.
MARA has led production for the ninth consecutive quarter, but has the highest unit costs; IREN has become the most profitable mining company for the first time, with a unit cost of only about $36,400.
