The combined market capitalization of prominent Bitcoin mining companies, including Riot Blockchain, Marathon Digital Holdings, Canaan Inc., Hut 8 Mining, and Cipher Mining Technologies, has dropped by approximately $2.8 billion. Hut 8 and Cipher experienced the most significant decline, losing 32% of their market capitalization, while Riot Blockchain saw the largest monetary loss with a 31% drop. However, miner revenue has shown an overall increase, rising from $601.2 million in January to $856 million in July. Despite some fluctuations, July marked a resurgence in earnings. The article also briefly mentions other topics such as Binance’s regulatory scrutiny and the FBI linking North Korea-backed hackers to crypto thefts.
AI Sentiment: Negative
