Bitcoin Miners Outperform Market: JP Morgan

Publicly Traded Crypto Firms Outpace Market Growth in January

• Publicly traded crypto firms’ market cap grew 14% in January, reaching $108 billion.
• The overall crypto market expanded by 8%, ending with a market cap of approximately $3.2 trillion.
• Coinbase’s market cap increased by 17% despite a 17% decline in trading volumes.
• Riot’s market cap surged by 20%, driven by AI and high-performance computing evaluations.
• Bitcoin’s price rose by 9%, reaching $102,300 at January’s end.

The market cap of publicly traded crypto firms grew almost twice as fast as the overall crypto market in January, with companies like Riot and Coinbase seeing significant gains despite challenges such as declining trading volumes for Coinbase.