JPMorgan Adjusts Price Targets for Bitcoin Mining Companies

According to Foresight News, CoinDesk reports that JPMorgan has evaluated the current Bitcoin price, estimating the value of the remaining 1.3 million BTC to be approximately $74 billion. In light of second-quarter performance and changes in Bitcoin prices and network hash rate, JPMorgan has revised its price targets for several mining companies. JPMorgan has lowered the target price for CleanSpark from $12.50 to $10.50, while maintaining a neutral rating on the stock. Similarly, the target price for Iren has been reduced from $11 to $9.50, with an overweight rating still in place. Marathon Digital, which has an underweight rating, saw its price target decrease from $14 to $12. Riot Platforms, rated overweight, had its price target cut from $12 to $9.50. These adjustments reflect JPMorgan's assessment of the current market conditions and the performance of these companies in the context of Bitcoin's fluctuating value and mining dynamics.