Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnSquareMore
JPMorgan upgrades Cipher and CleanSpark ratings, lowers target prices for MARA and Riot

JPMorgan upgrades Cipher and CleanSpark ratings, lowers target prices for MARA and Riot

金色财经金色财经2025/11/24 18:06
Show original

Jinse Finance reported that JPMorgan has recently released an industry report, providing a comprehensive rating adjustment for bitcoin mining companies and data center operators transitioning to high-performance computing (HPC), indicating that the industry is entering a "high-certainty phase of HPC/cloud computing transformation." Since the end of September, mining companies have signed more than 600 MW of long-term AI/HPC contracts, including collaborations with giants such as AWS, Google-backed Fluidstack, and Microsoft. JPMorgan expects that by the end of 2026, mining companies will announce plans to build approximately 1.7 GW of critical IT load, accounting for about 35% of approved power capacity. The rating changes are as follows: Cipher Mining: upgraded to Overweight, target price $18 (previously $12); CleanSpark: maintained at Overweight, target price $14; IREN: target price $28 → $39, but still maintained at Underweight; MARA: target price $20 → $13; Riot: target price $19 → $17. JPMorgan expects mining companies to add 1.7 GW of critical HPC IT capacity before 2026.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!