JPMorgan upgraded Cipher Mining and CleanSpark to overweight from neutral, raised MARA to neutral from underweight and downgraded IREN to neutral.
The bank updated estimates for a number of mining stocks in its coverage following third quarter results and recent gains in bitcoin and the hashrate.JPMorgan upgraded Cipher Mining and CleanSpark to overweight from neutral and raised MARA to neutral from underweight.A sum-of-the-parts valuation framework is now being used for the sector, which values company's mining operations, land and power portfolio, and hodl balance, the bank said.
The bank upgraded Cipher Mining and CleanSpark to overweight from neutral. JPMorgan also introduced a new price $8 price target for Cipher, and raised its CleanSpark price target to $17 from $10.50. The U.S. bank downgraded IREN to neutral from overweight while increasing its price target on the shares to $15 from $9.50.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin (BTC) Miners Bitdeer (BTDR), MARA Holdings (MARA) Among Gainers as Price Nears $100KBitcoin's price premium on Coinbase rebounded after flipping negative during the recent pullback, suggesting that American traders may be driving the rally.
Read more »
Very Difficult to Move Crypto Mining Operations: MARA Holdings CEOMARA Holdings CEO Fred Thiel says it's difficult to move crypto mining operations and he doesn't expect to see miners move if the US has better crypto regulation in the future. He speaks with Sonali Basak and Tim Stenovec on 'Bloomberg Crypto.
Read more »
JPMorgan loves Netflix, predicting Tyson-Paul fight could be most watched boxing match everFriday could be a big day for Netflix, according to JPMorgan.
Read more »
Trump says JPMorgan's Dimon won't be invited to join Trump administrationTrump says JPMorgan's Dimon won't be invited to join Trump administration
Read more »
Frenzy Alert: JPMorgan's Bitcoin Retail Sentiment Score Hits Record High, MSTR's Call Skew SoarsOmkar Godbole is a Co-Managing Editor on CoinDesk's Markets team.
Read more »
MARA to Offer $700M Convertible Senior Note, Shares Fall 5%As the senior analyst at CoinDesk, James specializes in Bitcoin and the macro environment. His previous role as a research analyst at Swiss hedge fund Saidler & Co. introduced him to on-chain analytics. He monitors ETFs, spot, futures volumes, and flows to understand bitcoin.
Read more »