JPMorgan Upgrades Bitcoin Mining Stocks Amid Market Shifts

JPMorgan has adjusted its ratings for several Bitcoin mining companies in response to evolving market conditions. The financial giant upgraded Cipher and CleanSpark’s ratings to ‘overweight’, reflecting their strong performance in HPC (high-performance computing) transformation, with Cipher’s target price now projected at $18, up from $12, and CleanSpark’s target boosted to $10.8. However, JPMorgan lowered the stock price expectations for two other mining firms, MARA and Riot, anticipating a decline in Bitcoin prices and increased share dilutions.