From Financial Modeling Prep: 2024-12-17 10:28:47

Piper Sandler initiates coverage on Bitcoin miners like MARA Holdings, Riot Platforms, Hut 8 Corp, and Galaxy Digital with bullish ratings. Regulatory clarity and national Bitcoin reserve plans under the new administration drive positive sentiment in the crypto market.

MARA, Riot, and Hut 8 see pre-market share increases following Piper Sandler’s ratings. Analysts anticipate a more crypto-friendly SEC and potential Bitcoin reserve to boost prices and miner profitability.

MARA Holdings stands out with a price target of $34, aiming to reach 50 EH/s mining capacity by 2024. Competitive advantages and long-term growth potential position MARA as an industry leader.

Riot Platforms, with a $23 price target, focuses on scaling operations and energy infrastructure. The firm’s expansion aligns with increasing demand from AI hyperscalers, presenting growth opportunities beyond crypto.

Bitcoin miners like MARA and Riot Platforms eye diversification into AI hyperscalers for continued growth. The industry’s energy infrastructure fits the demand for high-powered energy solutions in AI applications.

The future looks bright for Bitcoin miners, driven by national initiatives, regulatory clarity, and energy infrastructure advancements. MARA and Riot Platforms lead the industry towards robust growth, with potential impacts on crypto prices and mining profitability.



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