Cipher

Bitcoin

Investment bank Macquarie has initiated coverage on shares of several leading bitcoin mining companies, assigning them 'outperform' ratings. The list includes <a href="https://ultramining.com/news/en/marathon-digital-to-boost-energy-efficiency-with-s19-xp-miners/">Marathon</a> Digital Holdings, Riot Platforms, <a href="https://ultramining.com/news/en/cleanspark-doubles-down-on-bitcoin-mining-with-55m-expansion/">CleanSpark</a>, and <a href="https://ultramining.com/news/en/cipher-mining-thrives-eyes-increased-market-share/">Cipher</a> Mining. Analysts at the bank believe these companies will benefit from the growing demand for artificial intelligence (AI) and high-performance computing (HPC) infrastructure. 
Macquarie notes that many miners are diversifying their operations, shifting from pure cryptocurrency mining to providing <a href="https://ultramining.com/news/en/bitcoin-mining-reshaping-landscape-amid-global-interest-surge/">hosting</a> services for AI and HPC. For example, <a href="https://ultramining.com/news/marathon-digital-povyshaet-energoeffektivnost-s-pomoshhyu-majnerov-s19-xp/">Marathon Digital Holdings</a> commands the largest deployed capacity among publicly traded miners. The company's shares trade around $16.16, with Macquarie setting a price target of $22. 
Analysts expect that the concentration of resources such as power infrastructure and computing capabilities within the mining sector will represent significant long-term value, especially given the increasing demand for AI infrastructure.

Macquarie Assigns ‘Outperform’ Ratings to Leading Bitcoin Mining Stocks

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