Bitcoin Miners With HPC Exposure Underperformed BTC for Third Straight Month: JPMorgan

Bitcoin (BTC) mining companies with high-performance computing (HPC) exposure underperformed the world's largest cryptocurrency for the third month in a row in April, Wall Street bank JPMorgan said in a research report on Thursday.Some bitcoin miners have pivoted into new business areas, such as offering HPC services to the fast growing artificial intelligence (AI) market, to reduce their dependence on crypto."We note miners with HPC exposure (IREN, RIOT, WULF, HUT) underperformed BTC performance for the third consecutive month," analysts Reginald Smith and Charles Pearce wrote.Mining profitability fell in April as the network hashrate increased source: https://www.coindesk.com/markets/2025/05/01/bitcoin-miners-with-hpc-exposure-underperformed-btc-for-third-straight-month-jpmorgan