JPMorgan Chase: Cryptocurrency companies' market value growth by 14% in January
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According to Golden Finance, the latest research by JPMorgan Chase shows that the total market value of listed cryptocurrencies including Coinbase and Riot increased by 14% to US$108 billion in January, far exceeding the overall increase of 8% in the cryptocurrency market. Among them, Coinbase's market value increased by 17%, while Riot's increase reached 20%.
JPMorgan analyst Charles Pearce pointed out that the rise in the stock price of mining companies is mainly due to the concept of artificial intelligence. Take Riot as an example, the company is evaluating the shift of some computing power in Texas mines to AI and high-performance computing businesses.