According to The Block, based on the trend of transitioning towards artificial intelligence and high-performance computing (HPC), financial services group Macquarie has given Bitcoin mining stocks such as MARA, Riot Platforms, Core Scientific, CleanSpark, and Cipher Mining an "outperform" rating.

In recent years, Bitcoin mining companies have gradually diversified their business, providing AI and HPC hosting infrastructure in addition to pure cryptocurrency mining. Macquarie analysts Paul Golding and Emma Liang stated that this trend accelerated after the fourth Bitcoin halving in April.

Analysts wrote in a report released on Tuesday:

Some miners see their unprecedented access to electricity as an opportunity to diversify into custody businesses unrelated to cryptocurrency. Others believe this will interfere with accumulating Bitcoin on the balance sheet... but in most cases, the growth of mining capacity and/or land/GPU acquisitions for HPC/AI are achieved through diluted equity issuances

Macquarie believes that as the transition to HPC accelerates, multiple mining companies will benefit significantly in the long term. Analysts also pointed out that although the operation of AI cloud products in Bitcoin miners' facilities is still in the early stages, these companies have the potential to play an important role in the AI computing market.

They stated that the convergence of power infrastructure, computing resources, and bandwidth in the mining industry represents tangible value that exceeds Bitcoin's expected appreciation. As demand continues to exceed supply, the demand for AI computing infrastructure provides a "mark to market" opportunity.

Opinions on various mining companies

Within Macquarie's institutional Bitcoin miner community, MARA (formerly Marathon Digital, stock code MARA) continues to have the largest deployment capacity while providing infrastructure for the industry. They set a target price of $22 for the stock and consider it the largest company with extensive exposure to Bitcoin infrastructure. MARA closed at $16.14 on Wednesday, down nearly 30% year to date.

Macquarie stated that Riot's mining site is relatively large in the industry, and once fully constructed, it will improve operational efficiency while promoting the development of customized cooling infrastructure. Riot's stock (stock code RIOT) closed at $7.44 on Wednesday, down 51% year to date. Macquarie has set a target price of $15 for the stock.

Core Scientific is currently the only mining company with large-scale HPC/AI custody transactions, which diversifies its revenue and reduces Bitcoin risk. The target price of $16 offered by Macquarie is based on the company's AI custody opportunities while maintaining its BTC mining scale. Core Scientific's stock (stock code CORZ) closed at $12.35 on Wednesday, with an increase of over 260% in 2024.

Macquarie pointed out that CleanSpark continues to acquire small mining companies while maintaining its sustainable development spirit and increasing the scale of its merged mines. Given the company's differentiated characteristics in terms of geographic location and acquisition strategy, Macquarie has set a target price of $20 for its stock. CleanSpark's stock (stock code CLSK) was trading at $9.34 on Wednesday, down 12.5% year to date.

Macquarie stated that Cipher Mining is reaching its peak of development, and its wholly-owned Odessa mining site has been completed. The company has also announced a series of new mining sites that support Bitcoin mining and/or HPC. Given that we believe there may be a turning point in profits and scale in the near future, the company has set a target price of $6 for its stock. Cipher Mining's stock (stock code CIFR) was trading at $3.86 on Wednesday, a 6.4% decline from the beginning of the year to date.

(责任编辑：金店)

• ·比特币价格接近历史高点，而谷歌搜索趋势仍然低迷，发生了什么？
• ·虚拟币各平台
• ·会计报表如何把账面亏损变盈利
• ·收到银行汇票的会计分录
• ·冷钱包官方钱包-冷钱包官方钱包下载
• ·qsp币发行总量多少
• ·拍拍贷借款筹集满了多久放贷？当天可以拿到钱吗？
• ·冒险岛的加密冒险：NXPC造财富效应，链游的春天会回来吗？
• ·JPMorgan CEO Damon: JPMorgan may be one of the biggest users of memory blockchain technology
• ·bts币今日走势
• ·以太经典钱包中文版
• ·Chainlink 有望实现 35% 的收益——除非这一水平失败
• ·在微粒贷上做贷款容易吗，条件是什么呢？
• ·深圳有什么山可以爬
• ·结转完工入库产品成本的会计分录怎么做
• ·dog币总量是多少