A summer heatwave just cooled down Bitcoin’s hashrate ⚡ — dropping by 3% in June as U.S. miners scaled back capacity, according to JPMorgan. But here’s the twist: even with lower network power, mining profitability surged by 7%! 📈
The combined market cap of 13 listed U.S. Bitcoin miners rose 23% last month, boosted by speculation over deals like Core Scientific x CoreWeave.
IREN led the pack with a massive 67% gain 🚀, while Bitfarms struggled with a 19% drop.
Expect more heat (and volatility) in the mining sector soon.
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