U.S. Bitcoin Miners Reach Record Market Cap of $22.8 Billion in June

U.S.-listed bitcoin miners achieved a record-breaking total market cap of $22.8 billion in June, according to a research report from JPMorgan. This surge was primarily driven by the positive market response to Core Scientific's AI deal with CoreWeave. Mining stocks outperformed bitcoin in the first half of June, with Core Scientific seeing a significant 117% increase. Despite the recent Bitcoin halving in April, the mining difficulty has continued to decline and U.S. miners have increased their share of the global network hashrate for the second month in a row. This positive trend suggests that inefficient private operators are scaling back their operations after the halving, paving the way for more efficient miners to gain market share.