Bitcoin Miners Lose $6B in March Meltdown
Bitcoin miners saw a $6B drop in market value in March.
JPMorgan calls it the worst month ever for public miners.
Falling BTC prices and rising costs likely caused the plunge.
Bitcoin Miners Face Major Setback
March was a brutal month for publicly traded Bitcoin miners. According to a new report from JPMorgan, 14 of these mining companies collectively lost 25% of their market value, amounting to a staggering $6 billion in total losses. This marks the worst monthly performance on record for this group of miners.
The crypto market has had its fair share of ups and downs, but March delivered a particularly sharp blow to mining firms that rely heavily on Bitcoin’s price stability and mining profitability
