JPMorgan Lowers Price Targets on Bitcoin Miners, Sees Buying Opportunity

Certainly! JPMorgan has adjusted its price expectations for Bitcoin miners, including companies like CleanSpark, Riot Platforms, and Marathon Digital. According to their research report, the remaining value of Bitcoin mined through miners is approximately $74 billion. As for the current price of Bitcoin (BTC), the remaining 1.3 million tokens are valued at around $74 billion. JPMorgan factored in changes in Bitcoin prices and network hash rate for adjusting the miners’ price expectations. In the report, hash rate refers to the total computational power used for mining and processing transactions on the Proof of Work blockchain. Here are the specific adjustments:

CleanSpark: Price expectations reduced from $12.50 to $10.50, with a neutral rating.

Iren: Price expectations lowered from $11 to $9.50, maintaining an overweight rating.

Marathon Digital: Price expectations decreased from $14 to $12, while the overweight rating remains unchanged.

Riot Platforms: Price expectations revised down from $12 to $9.50.

Additionally, the four-year block reward revenue is approximately $37 billion, showing a 19% decrease from June’s start but an 85% annual increase. JPMorgan favors Iren and Riot, suggesting that the current dip presents a buying opportunity for these miners. Riot’s…#BinanceLaunchpoolDOGS #PowellAtJacksonHole #CryptoMarketMoves #BinanceBlockchainWeek #BinanceHODLerBANANA $BTC $ETH $SOL