JPMorgan Chase & Co (NYSE:JPM, ETR:CMC)’s respected chief executive Jamie Dimon may be something of a cryptocurrency permabear, but some analysts at the Wall Street institution have a positive read on the state of the bitcoin mining market right now.
Bitcoins’ price has taken a tumble recently, just as the hotly anticipated Halving event approaches later this week when bitcoin’s distribution rate will be cut in half as part of a four-year cycle.
Nonetheless, the world’s largest cryptocurrency remains 50% higher year to date, though this is not reflected in the price of bitcoin mining stocks.
Nasdaq-listed Iris Energy, Riot Platforms and Marathon Digital Holdings are all currently down by more than a third year to date.
In London, Argo Blockchain has lost two thirds of its value, while Toronto-listed HIVE Digital Technologies (TSX-V:HIVE, NASDAQ:HIVE) is also down by a third.
There is a universal theme when looking at…
