The Wall Street JPMorgan (JPM) bank has updated its minor Bitcoin (BTC) price objectives and estimates after the results of the fourth quarter 2024 and to take into account changes in the price of Bitcoin and Hashrate of the network.

The bank reiterated its overweight notes on anti-riot platforms (Riot) and Cleanspark (CLSK), and reduced their respective price targets to $ 13 and $ 12. Riot a glissé de 0,5% à 7,82 $. CleanSpark a gagné 0,6% à 8,15 $.

The mineral price targets have been reduced from 19% to 29% to reflect a reduction of 10% compared to the Bitcoin price hypothesis of the bank and an increase of 80% compared to the estimation of the growth of the hashrate of the bank’s network.

The total market capitalization of the five mining shares that the bank covers dropped by more than 20% for the start of the year compared to an 11% drop in the Bitcoin price, noted the report.

The mining actions have undergone pressure because the high performance calculation agreements (HPC) have taken more time than expected to materialize and the mining economy has deteriorated, the bank said.