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：商业观察)

• ·以下哪些币种是属于山寨币 山寨币排行榜：哪些币种属于山寨币山寨币排行
• ·比太钱包ios
• ·Bitfinex report: If Bitcoin market share reaches a local peak, altcoins may perform better than the overall market in the coming months
• ·本体币今日价格多少
• ·钱币交易即时行情
• ·狗狗币在下跌 10% 后进入需求区，反弹即将到来？
• ·DASH币价格今日行情-DASH币价格今日行情
• ·闪电借款需要绑定电话吗？不是很了解。
• ·股票税费计算
• ·挖矿软件不显示温度
• ·Raoul Pal预测比特币7月将突破14万美元，关键指标显示强劲看涨信号
• ·沙特央行通过MicroStrategy间接投资比特币，海湾国家加速布局加密领域
• ·Friend. Tech development team gives up contract control! FRIEND token plummets, Big Brother Maji's face turns green
• ·AAVE突破170美元，24小时涨幅达0.88%
• ·阿联酋成全球人均比特币持有量最高国家
• ·加拿大计划对大多数美国商品维持25%的报复性关税