JPMorgan: The decline in Bitcoin prices has a huge impact on mining companies

ChainCatcher news, according to Decrypt, a report from JPMorgan shows that the total market capitalization of the top U.S. mining companies fell by 22% in February, approximately $6 billion.

Previously, the price of Bitcoin dropped by 10%, currently priced at $87,300. The report also noted that miners' daily block reward income decreased by 5%. Mining companies are facing increased operational costs, influenced by market sentiment and trade wars, as investors turn to risk aversion.