Bitcoin Mining Stocks Gain Attention as Difficulty Decreases for First Time in Four Months
Investment bank KBW has initiated coverage on three Bitcoin mining firms with buy recommendations:
- Bitdeer Technologies (NASDAQ: BTDR) - Target price set at $26.50, currently trading at $20.60. The stock is up 115% over the last six months.
- CleanSpark (NASDAQ: CLSK) - Target price of $19; currently at $11.53 with a 22% increase in January 2025. Aiming for a hashrate of 50 EH/s by mid-2025.
- Core Scientific (NASDAQ: CORZ) - Price target of $22; trading steady at $16. The stock has increased by 67% in six months and 10% since January 2025.
Bitcoin Mining Difficulty Update
The Bitcoin mining difficulty has dropped by 2.12%, marking the first decrease since September 2024. The new difficulty level is set at 108.11 trillion, down from 110.45 trillion. This adjustment occurred at block height 880,992 on January 27 and ensures stable block discovery times.