Struggling bitcoin miners may be revived by Fed rate decision, regardless of cut size

Whether the Federal Reserve delivers an ordinary, or slightly larger interest-rate cut on Wednesday, it could trigger a turnaround for bitcoin miners, which have been struggling with higher borrowing costs and battered stock prices, market participants said.

Major public crypto miners have been significantly underperforming bitcoin this year, as they face intense competition and limited profit . Marathon Digital Holding’s MARA shares fell 32.7% year to date, and those of Riot Platforms RIOT lost 54.6%, while bitcoin BTCUSD rose 44% during the same period.