tl;dr
J.P. Morgan analyst Reginald L. Smith revised his ratings on two bitcoin (BTC-USD) miners to reflect recent increases in bitcoin itself and the network hashrate. Since the start of December, bitcoin (BTC-USD) and the network hashrate have rallied 13% and 2%, respectively. With CleanSpark (CLSK...
J.P. Morgan analyst Reginald L. Smith revised his ratings on two bitcoin (BTC-USD) miners to reflect recent increases in bitcoin itself and the network hashrate.
Since the start of December, bitcoin (BTC-USD) and the network hashrate have rallied 13% and 2%, respectively. With CleanSpark (CLSK) soaring 21% MTD compared to the S&P 500's -0.2% slip, Smith believes shares are properly priced.
The bullish coverage on Riot Platforms (RIOT), which has seen its stock climb 8.1% MTD, comes as Smith believes its recently announced purchase order and Corsicana expansion plans will boost its scale and improve fleet efficiency. RIOT and CLSK gained 4.3% and 2%, respectively, in Friday morning trading.
More about Riot Blockchain Inc
Riot Blockchain Inc. is a company focused on cryptocurrency mining operations in North America. The company's stock performance has shown a decrease of 1.8% over the last period, with a current stock price of $16.34. Market sentiment appears to be bearish, as indicated by the negative change in stock price and the Relative Strength Index (RSI) of 1.582, which is below the typical overbought level of 70. However, it's important to note that past market behavior is not always indicative of future performance, and there are potential risks and uncertainties associated with cryptocurrency mining operations that could impact the company's future stock performance.
More about CleanSpark Inc
CleanSpark Inc. is a company that provides energy software and control technology solutions worldwide. The company is headquartered in Woods Cross, Utah. The stock performance has shown a decrease of -1.29% and an increase of 1.64% over the past period, with a market sentiment of -0.811. The company has a market cap of 1.7 billion and a trading volume of 168.4 million. The industry sector is real estate and construction, with a category of blank checks. It is important to note that past market behavior is not always a reliable indicator of future performance, and there may be potential risks or uncertainties associated with this analysis.
Disclaimer:
This is not financial advice. Please do your own research before investing in any asset.