Bitcoin Miner’s (BTC) Mine (BTC) price targets to demonstrate the improved mining economy: JPMorgan
JPMorgan (JPM) raised its target prices for a number of Bitcoin
Mining companies to display the results of first-quarter and changes in bitcoin prices and network hashrates, the bank said in a report on Friday.
The bank raised the CleansPark (CLSK) target price to $ 14 from $ 12, the Riot Platforms (Riot) goal goal to $ 14 from $ 13 and the target Mara Holdings (Mara) of $ 19 from $ 18.
“Our target prices are generally increased due to the increased price of Bitcoin and improving mining profitability,” analysts Reginald Smith and Charles Pearce wrote.
JPMorgan said the price targets have been spying to show a 24% increase in the Bank bitcoin area of the bank’s Bitcoin and a 9% increase in its network hashrate estimate.
The hashrate refers to the total computational power combined computation used in mine and process transactions in a Proof-of-work Blockchain, and a proxy for industry and mining poverty competition.
JPMorgan reiterated its overweight ratings with Cleanspark, Iren (Iren) and Riot, and its neutral rating for Cipher Mining (CIFR) and Mara.
Read more: Bitcoin mining ability to improve in May, JPMorgan says
