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  • coinbase-wrapped-btcCoinbase Wrapped BTC (CBBTC) $ 105,255.00
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  • tokenize-xchangeTokenize Xchange (TKX) $ 27.82
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  • mantleMantle (MNT) $ 0.605618
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  • skySky (SKY) $ 0.082511
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  • lombard-staked-btcLombard Staked BTC (LBTC) $ 105,020.00
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  • fetch-aiArtificial Superintelligence Alliance (FET) $ 0.671809
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  • ethenaEthena (ENA) $ 0.269374
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  • polygon-ecosystem-tokenPOL (ex-MATIC) (POL) $ 0.181713
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  • jupiter-perpetuals-liquidity-provider-tokenJupiter Perpetuals Liquidity Provider Token (JLP) $ 4.38
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Bitcoin Miner Price Targets Raised to Reflect Improved Industry Economics: JPMorgan

Mining
By admin
0 4

Bitcoin Miner Price Targets Raised to Reflect Improved Industry Economics: JPMorgan

JPMorgan (JPM) raised its price targets for a number of bitcoin

BTC$104,909.92 mining companies to reflect first-quarter results and changes to the bitcoin price and the network hashrate, the bank said in a report Friday.

The bank lifted its CleanSpark (CLSK) price target to $14 from $12, its Riot Platforms (RIOT) objective to $14 from $13 and its MARA Holdings (MARA) target to $19 from $18.

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“Our price targets generally increased due to higher bitcoin prices and improving mining profitability,” analysts Reginald Smith and Charles Pearce wrote.

JPMorgan said it tweaked the price targets to reflect a 24% increase in the bank’s spot bitcoin assumption and a 9% increase to its network hashrate estimate.

The hashrate refers to the total combined computational power used to mine and process transactions on a proof-of-work blockchain, and is a proxy for competition in the industry and mining difficulty.

JPMorgan reiterated its overweight rating on CleanSpark, IREN (IREN) and Riot, and its neutral rating for Cipher Mining (CIFR) and MARA.



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