Category Bitcoin Miners

The total market cap of the 13 U.S.-listed miners that the bank tracks rose 19% from the month previous, according to the report.

U.S.-listed miners also produced fewer bitcoin last month than in March.

Mining gross margins expanded sequentially this month, which is encouraging, the bank said.

Mining profitability fell in April as the network hashrate increased 6%, the report said.

Beaten down crypto miners snapped back after weeks of underperformance with bitcoin catching momentum.