Bitcoin Miners Focused on Core Mining Outshine Those Dabbling in HPC đ
In the first two weeks of April 2025, bitcoin miners sticking to traditional mining, like MARA Holdings and CleanSpark, outperformed bitcoin itself, according to a JPMorgan report. Meanwhile, miners branching out into high-performance computing (HPC), such as Bitdeer, TeraWulf, IREN, and Riot Platforms, lagged behind. Rising network hashrate and a dip in bitcoin prices squeezed mining profits, making it tougher for these diversified miners. The report also noted that U.S.-listed miners added capacity in March but faced challenges in April, with their market cap dropping 2% to $16.9 billion and daily block reward revenue falling 12% from March.
Itâs no surprise that pure-play miners are holding up betterâfocusing on what youâre good at usually pays off when the market gets shaky. HPC sounds flashy, especially with the AI buzz, but spreading resources thin in a tough mining environment seems like a risky move. Miners like MARA and CleanSpark are keeping it simple and winning for now. If bitcoin prices keep slipping or hashrate competition ramps up, those HPC bets might drag even more. Stick to the basics, folks!
If you enjoy my content, feel free to follow me â¤ď¸
