This is JPMorgan’s top pick for Bitcoin mining companies
The executive chairman and co-founder of CleanSpark Inc (NASDAQ: CLSK) uncovered JPMorgan’s most recent research on Bitcoin (BTC) mining companies stocks, distributed on October 11. This report is called “Bitcoin Mining: Expanding Coverage”, and initiates an Analysis of CLSK, CIFR, RIOT, and MARA fundamentals. JPMorgan’s North America equity research team addresses the challenges being faced in the Bitcoin mining industry, related to the growing hashrate, and the risks imposed by the upcoming block subsidy halving to BTC: “The bitcoin mining industry is at a crucible moment as management teams (and investors) weigh the prospects of a Bitcoin ETF, which may catalyze a rally, against record hashrate increases and the looming block reward halving that threaten industry revenues and profitability.” — JPMorgan In this context, the report explains that the market cap of the 14 largest U.S. listed Bitcoin mining companies is 36% larger than what JPMorgan’s research team expects the w