Wall Street Bank JPMorgan repaired the qualifications and price objectives in a group of Bitcoin miners to start the week.
Estimates update for the group to reflect the profits of the second quarter and the changes in the hashrate of the network and the price of Bitcoin, the bank updated Mara Holdings (Mara) to overweight and raised its target price at $ 22 of $ 19, which suggests that approximately 30% of Fridays close just over $ 17.
Iren (Iren) was degraded to neutral per overweight, although the target price rose to $ 16 from $ 12. Riot Platforms (Riot) was also reduced to overweight neutral, and its objective increased to $ 15 from $ 14.
CleanSTark (CLSK) overweight is the best choice of the bank, with a high target price of $ 15 versus $ 14 above, which suggests approximately 30% rise from the closure just below $ 12 on Friday.
Unclassified encryption mining (CIF) has a new price objective of $ 6.
“In one turn, we favor pure game operators within our coverage universe, since they offer the best relative value, and are better positioned to benefit from an ascending price of Bitcoin,” wrote the analysts Reginald Smith and Charles Pearce.
The mining price objectives have increased to take into account Bitcoin’s highest prices and improve mining profitability, the authors continued.
The largest cryptocurrency in the world quoted around $ 118,700 at the time of publication.
Read more: Core Scientific Sale Sets Floor Price for Bitcoin Miners: JPMorgan
