JP Morgan Lowers Price Targets for Bitcoin Miners; Sees Entry Point

IconCryptoNewsTerminal Staff23 Aug, 2024

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JP Morgan Lowers Price Targets for Bitcoin Miners; Sees Entry Point

JP Morgan has lowered its price targets for Bitcoin miners CleanSpark (ticker:CLSK), Iris Energy (ticker:IREN), Marathon Digital (ticker:MARA), and Riot Platforms (ticker:RIOT). The move reflects updated estimates following Q2 results, lower BTC price assumptions, and recent hashrate developments. "That said, we believe the recent pullback in share prices creates an attractive entry point for investors," JP Morgan said. | Company | Previous Target | New Target | |---|---|---| | CleanSpark | $12.50 | $10.50 | | Iris Energy | $11.00 | $9.50 | | Marathon Digital | $14.00 | $12.00 | | Riot Platforms | $12.00 | $9.50 | Despite the lowered price targets, JP Morgan remains positive on the long-term prospects for Bitcoin mining.

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