Support for the Rise of Bitcoin Mining from JPMorgan

JPMorgan Upgrades Cipher Mining and CleanSpark

JPMorgan has increased its weightings in Cipher Mining and CleanSpark. The bank cited strong momentum in high-performance computing (HPC) transformation as the reason.

It is noted that long-term cloud and land provider agreements have boosted company valuations despite the challenging mining economics. This development stands out as significant under the current market conditions.

The bank has raised its price target for IREN, while lowering its forecasts for MARA and Riot Blockchain. This revision occurred in parallel with softer Bitcoin predictions and increasing share dilution.