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：货币)

• ·中国比特币和火币
• ·Arthur Hayes专访：比特币年底目标价25万美元，以太坊将跑赢Solana，山寨币季何时启动？
• ·筹资活动产生的现金流量包括什么
• ·增值税小规模申报表如何填写
• ·火币网不能提现
• ·建行交通龙卡信用卡6000额度能提现多少？有利息吗？
• ·以太坊上次牛市涨了多少倍？一文搞清楚！
• ·SHIB炒币交易所 SHIB炒币交易所网页版v6.0.9
• ·最新十大虚拟货币排名 最受欢迎的十大虚拟货币排行，它们分别是谁
• ·欧意易易交易所app官网版_欧意易易交易所app官网版v6.04
• ·比特波币价格
• ·特朗普削减中国关税 美国进口商重新考虑发货计划
• ·为什么用显卡比特币 为什么用显卡比特币不能用
• ·比权网如何
• ·特朗普称赞贝森特上电视带动市场上涨
• ·国内几大交易平台-国内几大交易平台排名