Bitcoin mining giants lose $2.8B in market cap to crypto market’s sudden crash

The top five largest crypto mining companies collectively lost $2.8 billion of their market Cap following last Thursday’s Bitcoin (BTC) flash crash.

AltIndex data reveals a 30% decline over the past month among the prominent BTC miners. This group, consisting of Riot Blockchain, Marathon Digital Holdings, Canaan Inc., Hut 8 Mining, and Cipher Mining Technologies, saw their combined market capitalization drop to approximately $6.7 billion from the $9.5 billion recorded in July.