{"id":3810,"date":"2025-06-13T16:16:14","date_gmt":"2025-06-13T16:16:14","guid":{"rendered":"https:\/\/digkrypton.com\/index.php\/2025\/06\/13\/jpmorgan-reports-record-profits-for-bitcoin-miners-in-q1\/"},"modified":"2025-06-13T16:16:14","modified_gmt":"2025-06-13T16:16:14","slug":"jpmorgan-reports-record-profits-for-bitcoin-miners-in-q1","status":"publish","type":"post","link":"https:\/\/digkrypton.com\/index.php\/2025\/06\/13\/jpmorgan-reports-record-profits-for-bitcoin-miners-in-q1\/","title":{"rendered":"JPMorgan Reports Record Profits for Bitcoin Miners in Q1"},"content":{"rendered":"

Bitcoin Magazine<\/a><\/p>\n

JPMorgan Reports Record Profits for Bitcoin Miners in Q1<\/a><\/p>\n

<\/div>\n

Bitcoin mining<\/a> companies in the U.S. have kicked off 2025 with record performance, according to a recent report<\/a>. The first quarter of the year was \u201cone of Bitcoin miners\u2019 best quarters to date,\u201d analysts Reginald Smith and Charles Pearce stated.\u00a0<\/p>\n

\n

JUST IN: JPMorgan reported Q1 2025 was one of the best periods on record for publicly traded bitcoin mining companies pic.twitter.com\/gs9fGiTbZV<\/a><\/p>\n

\u2014 Bitcoin Magazine (@BitcoinMagazine) June 13, 2025<\/a>\n<\/p><\/div>\n

\u201cFour of the five operators in our coverage reported record revenue and profits,\u201d the report stated, underscoring the sector\u2019s impressive rebound in profitability amid continued institutional adoption and high bitcoin prices, currently hovering around $105,462.87.<\/p>\n

In total, U.S.-listed miners brought in $2.0 billion in gross profit during Q1 2025, with average gross margins reaching 53%\u2014a jump from $1.7 billion and 50% in the previous quarter.<\/p>\n

MARA Holdings (MARA) once again led the pack in Bitcoin production<\/a>, mining the most BTC for the ninth consecutive quarter. However, despite its output dominance, MARA also posted the highest cost per coin, estimated at $72,600, JPMorgan noted.<\/p>\n

On the profitability front, IREN (IREN) was the standout performer. For the first time, IREN earned the most gross profit among the tracked firms. The company also reported the lowest all-in cash cost per Bitcoin, around $36,400, helping to boost margins significantly.<\/p>\n

CleanSpark (CLSK), another major player, did not raise any equity in the quarter\u2014one of the more capital-disciplined moves seen among its peers. In fact, JPMorgan reported that the five miners it tracks issued only $310 million in equity for Q1, marking a steep decline from $1.3 billion in Q4 2024.\u00a0<\/p>\n

On the operational expense side, miners spent an estimated $1.8 billion on power, up $50 million from the previous quarter\u2014demonstrating the energy-intensive nature of mining.\u00a0<\/p>\n

JPMorgan\u2019s outlook on the industry<\/a> remains bullish for select players. The bank maintains overweight ratings for CleanSpark, IREN, and Riot Platforms (RIOT), while assigning neutral ratings to Cipher Mining (CIFR) and MARA.<\/p>\n

As profitability surges and strategic spending remains in check, 2025 may very well be remembered as a turning point in mining economics\u2014especially for companies navigating cost discipline and scaling production.\u00a0<\/p>\n

This post JPMorgan Reports Record Profits for Bitcoin Miners in Q1<\/a> first appeared on Bitcoin Magazine<\/a> and is written by Jenna Montgomery<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin Magazine JPMorgan Reports Record Profits for Bitcoin Miners in Q1 Bitcoin mining companies in the U.S. have kicked off 2025 with record performance, according to a recent report. The first quarter of the year was \u201cone of Bitcoin miners\u2019 best quarters to date,\u201d analysts Reginald Smith and Charles Pearce stated.\u00a0 JUST IN: JPMorgan reported […]<\/p>\n","protected":false},"author":0,"featured_media":3811,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-3810","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bitcoin"},"acf":[],"_links":{"self":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts\/3810","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/comments?post=3810"}],"version-history":[{"count":0,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts\/3810\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/media\/3811"}],"wp:attachment":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/media?parent=3810"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/categories?post=3810"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/tags?post=3810"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}