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Author: Admin | 2025-04-28
Quick TakeShares in several U.S.-traded bitcoin mining stocks are trading sharply higher in Monday’s session.An analyst noted the price of bitcoin is rising “at the same time that enthusiasm for bitcoin mining stocks as plays on the growth of AI has returned.”Shares in several publicly traded U.S. bitcoin mining stocks are trading sharply higher in Monday's session. One stock in particular received a new bullish rating from the sell side, which appears to be pushing up the entire sector."We are seeing two big drivers of bitcoin miner stock appreciation working at the same time," Benchmark's Mark Palmer told The Block, "with the price of bitcoin rising at the same time that enthusiasm for bitcoin mining stocks as plays on the growth of AI has returned."Before Monday's opening bell, Jefferies analyst Jonathan Peterson initiated a "buy" rating and $19 price target on Core Scientific (ticker CORZ).CORZ closed up 6.2% to $14.20 per share. The stock is up more than 300% in the year-to-date period."While all the miner stocks are getting a lift from the bitcoin price rally, it is the subset of the miners such as IREN, Hut 8, Bitdeer, and TeraWulf – those that have more of a focus on powering AI projects – that are outperforming as they are perceived as beneficiaries of both drivers," Palmer said.This past summer, Core Scientific signed a 12-year deal with AI Hyperscaler CoreWeave, which could be worth up to $3.5 billion in total revenue. The miner has signed three contracts, adding 70MW and
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