What to know:
- In a curious twist of fate, KBW has deemed the bitcoin miners Bitdeer, CleanSpark, and Core Scientific worthy of an outperform rating.
- These three companies, like characters in a Dostoevskian novel, each offer their own unique exposure to the grand spectacle of bitcoin.
- Yet, amidst this digital gold rush, Galaxy Digital stands tall as KBW’s favored champion in this chaotic arena.
Ah, the world of Bitcoin (BTC) miners! Here we find Bitdeer Technologies (BTDR), CleanSpark (CLSK), and Core Scientific (CORZ), all graced with the illustrious outperform rating by KBW, as revealed in a report that could rival the most dramatic of Russian literature.
These mining companies, each a reflection of human ambition and folly, provide varying degrees of exposure to the bewitching allure of the largest cryptocurrency, as the bank so eloquently stated.
Bitdeer, a veritable tapestry of a bitcoin mining business model, is further embellished by its burgeoning ASIC manufacturing arm. It is as if they are trying to juggle the complexities of existence while also dabbling in the arcane arts of artificial intelligence (AI) and high-performance computing (HPC). Their “live cloud service platform” and “robust power pipeline” offer a tantalizing glimpse into a future filled with hosting and co-location opportunities, should the fates allow.
KBW, in its infinite wisdom, has set a price target of $26.50 on Bitdeer’s shares, which, in the grand scheme of things, were a mere 0.3% lower at around $20.60 in the early hours of trading. Ah, the irony of it all!
Then we have CleanSpark, one of the largest publicly listed miners, with a hashrate target of approximately 50 exahashes per second (EH/s) for mid-2025. It boasts one of the most efficient mining fleets, a veritable marvel of modern engineering, granting it “strong unit economics and outsized BTC production.” Truly, a tale of triumph amidst the chaos!
KBW has bestowed upon this company a price target of $19, as if to say, “Here lies your destiny!”
Core Scientific, meanwhile, offers a glimpse into the most enticing AI/HPC hosting services contract through a 12-year deal with CoreWeave, a partnership that could rival the most dramatic alliances in literature. With its engineering team, seasoned in the art of data center operations, it is poised to “secure incremental capacity,” as the report so sagely notes.
KBW has initiated coverage of Core Scientific with a price target of $22, while the stock languished at $16 on Monday, a mere reflection of the tumultuous nature of existence.
And let us not forget Galaxy (GLXY), the bank’s top outperform idea in the digital assets realm, standing as a beacon of hope amidst the swirling chaos of the market.
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2025-01-27 12:34