Miners have a rough start to 2025
Research from financial services firm JPMorgan shows that publicly listed Bitcoin mining companies collectively lost 22% of their share value in February 2025.
Even miners who diversified operations into artificial intelligence and high-performance computing data centers, to shore up revenue lost through mining activities, are facing financial pressures, the JPMorgan report found.
The financial services firm cited the release of DeepSeek R1, an open-source AI model trained for a fraction of the cost as the leading models and performs on par with closed-source AI products, as a strain on large AI data centers.
Mining, Bitcoin Mining
Although the Bitcoin network’s hashrate oscillates in the short term, the long term trend is up-only. Source: CryptoQuant
A steadily rising network hashrate, which is the sum total computing power in the Bitcoin network, is also creating increased competition among miners, who must expend greater computing resources to remain profitable.
Fears of a prolonged trade war between the United States and Canada, alongside constant tariff headlines, have put miners on edge.
Threats from Canadian officials to levy tariffs on energy exports to the United States place even more pressure on the already struggling industry.
