Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • SUBMIT
Crypto Flexs
Home»ADOPTION NEWS»JPMorgan Lowers Target for Bitcoin Mining Stocks Amid Falling Prices and Rising Hash Rates
ADOPTION NEWS

JPMorgan Lowers Target for Bitcoin Mining Stocks Amid Falling Prices and Rising Hash Rates

By Crypto FlexsAugust 23, 20242 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
JPMorgan Lowers Target for Bitcoin Mining Stocks Amid Falling Prices and Rising Hash Rates
Share
Facebook Twitter LinkedIn Pinterest Email

JPMorgan has cut its price targets for Bitcoin miners, reflecting company-specific announcements including second-quarter results, fleet efficiency improvements, and hashrate targets.

The target price cut is primarily due to the decline in Bitcoin’s price since the last model update, which lowered the spot Bitcoin price estimate from $68,000 to $60,000, according to an analysis report released by the investment bank on Friday.

Additionally, the baseline network hash rate assumption has increased from 600 exahashes per second to 615 EH/s. This factor has reduced the estimated target gross profit per EH/s for miners, the report added.

“Our price targets have declined across the board due to share dilution, the decline in the Bitcoin price, and the rise in the network hash rate. We remain overweight on IREN (our top pick) and RIOT (underweight Mara), and neutral on CIFR and CLSK,” wrote JPMorgan analysts Reginald L. Smith and Charles Pearce, referring to publicly traded Bitcoin miners Iris Energy, Riot Platforms, Marathon Digital, Cipher Mining, and CleanSpark, respectively.

Potential Bitcoin Mining Opportunities

However, the investment bank’s analysis suggests that sentiment and share price appreciation for both RIOT and IREN are likely to improve in the coming months. Friday’s report highlighted improvements in RIOT’s uptime and production metrics following the installation of an immersion cooling unit at its Corsicana facility.

The report also noted that the decline in IREN shares over the past three weeks, driven by a surge in electricity costs related to a July power hedge loss, presents a potential opportunity.

“We believe these mistakes can be corrected, and view the recent weakness as a good buying opportunity. Headlines like these also highlight the continued robust operations of CleanSpark and Cipher, which have delivered industry-leading uptime and cost management over multiple quarters,” the report said.


Disclaimer: The Block is an independent media outlet providing news, research and data. As of November 2023, Foresight Ventures is the largest investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, influential and timely information on the cryptocurrency industry. Below are the current financial disclosures.

© 2024 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be legal, tax, investment, financial or other advice.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

TRX Price Prediction: TRON targets $0.35-$0.62 despite the current oversold situation.

October 26, 2025

BTC RSI hits April low as Coinbase premium turns red.

October 18, 2025

Crypto Exchange Rollish is expanded to 20 by NY approved.

October 2, 2025
Add A Comment

Comments are closed.

Recent Posts

Stake USDT To Earn BTC With Up To 600% APR

October 28, 2025

Coinbase Acquires Echo, Leading On-Chain Capital Raising Platform in $375 Million Deal

October 28, 2025

US Bitcoin reports holdings of 3,865 BTC after recent acquisition

October 27, 2025

Swiss Bitcoin App Relai Acquires MiCA License In France

October 27, 2025

Tapzi Presale Gains Traction with DeepSnitch AI and Bitcoin Hyper

October 27, 2025

The first extension for Solana developers

October 27, 2025

River Public Sale – 48-Hour Dutch Auction Lowest Price Settlement, Claim And Refund Instantly After End

October 27, 2025

Jiuzi Holdings, Inc. Partners With SOLV Foundation On $2.8B TVL Bitcoin Initiative To Advance Crypto Treasury Strategy

October 27, 2025

Why Elon Musk’s SpaceX transferred $133 million in Bitcoin

October 27, 2025

Stablecoin payments reach $10 billion with mainstream adoption

October 26, 2025

Ethereum Rebounds from Bull Market Support: Can It Conquer the ‘Pocket of Gold’ Next?

October 26, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Stake USDT To Earn BTC With Up To 600% APR

October 28, 2025

Coinbase Acquires Echo, Leading On-Chain Capital Raising Platform in $375 Million Deal

October 28, 2025

US Bitcoin reports holdings of 3,865 BTC after recent acquisition

October 27, 2025
Most Popular

Analysis of SUI’s 90% Rally in November: Will the Uptrend Continue?

November 20, 2024

BTC, ETH, BNB, XRP, SOL, ADA, DOGE, TON, LINK, AVAX

December 3, 2023

Cryptocurrency flash crash, Bitcoin, Solana, and Dogecoin plunge, resulting in a 4% decrease in cryptocurrency market capitalization

April 2, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.