Bitcoin Miners actions reached new maximums in August, thanks to AI: JP Morgan

Market capitalization of the best publicly listed Bitcoin The miners fired last month, according to JP Morgan analysts in a note on Tuesday, since some of the largest companies in the industry expanded to high -power computer science.

Analysts wrote that the capitalization of the aggregate market of the 13 miners in the American list reached a record of more than $ 39 billion in August.

The bank tracks the Hut 8 miners, Core Scientific, Terawulf, Iren and Riot, which trade with the stock exchanges.

The largest cryptocurrency mining in the world by market value has become increasingly difficult and expensive. The process has also generated smaller rewards since the middle of the middle of last year, the Bitcoin won from 6,250 to 3,125. These trends have harmed profitability, even when the price of Bitcoin has increased, which leads to the miners to seek new sources of income.

Miners have often had to sell coins or branch into different industries, such as high performance computing for artificial intelligence, to cover operating costs.

But the fun in the AI ​​data centers is difficult, which requires more complex heating, ventilation and air conditioning systems than those of Bitcoins mining, experts have said Decipher.

Even so, some miners have already announced initiatives to convert facilities with HUT 8 last month revealing plans Develop 1.53 gigawatts of new capacity in four American sites.

The new sites will provide energy for non -mining purposes, the company said.

Bitcoin was recently quoted at $ 111,285, according To the data provider of cryptocurrency markets, Coingcko, after increasing 2% in the last 24 hours. BTC fell more than 10% after reaching a historical maximum of $ 124,285 last month.

JP Morgan analysts noticed in Tuesday’s report indicated the decrease in profitability compared to Julio, since the hashrate of the network reached high record, but the currency fell to close to their current levels.

In a comment to DecipherDarcy Daubaras, CFO of Hive Digital Technologies (HIVE), said that the “dual business model of the company that combines Bitcoins mining and high performance computing” aims to benefit from “two digital industries in rapid expansion.”

“In practical terms, this means that Hive is expanding the production of Bitcoin, very similar to a production of commercial growth scales of a central product,” he wrote. “Each incremental exahash increases daily production and income potential, while our HPC division provides a complementary income flow that grows with the demand for calculation power.”

Update (September 2, 2025, 6:20 pm et): Add COFO Colmena Comment.