Bitcoin News Today: Bitcoin miners shift to HPC, prompting JPMorgan to reassess values: Data centers take the lead in a new era
- JPMorgan Chase upgraded Cipher Mining and CleanSpark to Overweight, cutting targets for legacy miners as the sector shifts to high-performance computing (HPC) and cloud infrastructure. - Analysts project 1.7 gigawatts of HPC capacity by 2026, with Cipher and CleanSpark well-positioned to capitalize on the transition through 410 MW and 200 MW of critical IT contracts respectively. - Traditional miners like Marathon and Riot face lower targets due to weak bitcoin prices and rising hashrate, while HPC valua
JPMorgan Chase has revised its perspective on the
Reginald Smith and Charles Pearce from the firm
Cipher Mining's rating was moved up from Neutral to Overweight, with its price target for December 2026 increased to $18 from $12. The analysts
Conversely, JPMorgan lowered MARA's price target from $20 to $13, citing sluggish bitcoin prices, increasing network hashrate, and dilution from ATM offerings and convertible notes. The firm
The report also raised IREN's price target to $39 from $28, reflecting its $9.7 billion deal with Microsoft and integrated cloud capacity valuations. However, the firm
The market responded quickly. Cipher's stock climbed 4.59% to $14.80, while CleanSpark advanced 4.42% in pre-market trading
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