💰 Bitcoin Mining Opportunity Valued at $74B, Says JPMorgan

Massive Opportunity:

- $74B Value:JPMorgan estimates the remaining 1.3 million Bitcoin left to be mined are worth approximately $74 billion at current prices.

- Four-Year Revenue: The block reward revenue for the next four years is projected at $37 billion, despite a 19% drop since June.

- Stock Price Adjustments:

- Price Target Cuts:

- CleanSpark (CLSK): Reduced from $12.50 to $10.50 (Neutral Rating).

- Iren (IREN): Lowered from $11 to $9.50 (Overweight Rating).

- Marathon Digital (MARA): Decreased from $14 to $12 (Underweight Rating).

- Riot Platforms (RIOT):Trimmed from $12 to $9.50 (Overweight Rating).

- Investment Opportunities:

- JPMorgan’s Top Picks:

- Iren (IREN):Despite recent dips due to increased power costs, JPMorgan sees this as a buying opportunity.

- Riot Platforms (RIOT):Although it has underperformed due to operational challenges, better sentiment and improved production metrics could lead to upside potential.

- Mining Industry Outlook:

- Network Hashrate: Reflects the growing computational power needed to mine Bitcoin, influencing the bank’s adjusted price targets.

- Buying Opportunity:Recent stock underperformance presents potential gains for investors, especially in Iren and Riot.

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