4 Bitcoin Stocks Set For Growth: Analyst Highlights High-Performance Computing As Key Catalyst
Rosenblatt analyst Chris Brendler initiated coverage of Bitcoin stocks on Friday, citing a premium likely for the stocks due to their entry into the high-performance computing (HPC) business.
Cipher Mining
Brendler initiated coverage on Cipher Mining (NASDAQ:CIFR) with a Buy rating and a price target of $6.5.
After a strong 2024 and a start to 2025, the stock has dramatically underperformed in the recent market pullback.
With its largest data center to date, energizing the second quarter of 2025, the company is set to scale rapidly. Brendler expects the company’s 300 MW Barber Lake facility to find an attractive HPC client. This should be a significant catalyst for the stock since the recent sell-off indicates funding issues and an HPC deal should quickly alleviate these concerns.
Brendler projected first-quarter revenue of $47.78 million and an EPS loss of 10 cents.
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Hive Digital Technologies
Brendler initiated coverage on Hive Digital Technologies (NASDAQ:HIVE) with a Buy rating and a price target of $6.
HIVE has become one of the more intriguing stocks in the Bitcoin mining sector. On the one hand, the company …
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