In a recent report, Morgan Stanley has begun covering multiple bitcoin miners and provided an "outperform the large cap" rating.
According to the Securities Times app, Morgan Stanley has recently started covering$Riot Platforms (RIOT.US)$,$MARA Holdings (MARA.US)$,$CleanSpark (CLSK.US)$and Cipher Mining (CIFR.US) among other bitcoin miners, and gave an "outperform the large cap" rating. The institution stated that the basic driving factors supporting the appreciation of bitcoin prices may continue to accelerate, leading to an increase in BTC production and an increase in stock issuance.
Driven by optimistic expectations, Cipher's stock price soared significantly, rising 18% in early trading on Wednesday and closing up 12%. Meanwhile, Riot, Marathon Digital, and CleanSpark also saw slight increases. As of the time of publication, stocks in the crypto concept sector $Iris Energy (IREN.US)$Please use your Futubull account to access the feature.$Cipher Mining (CIFR.US)$Please use your Futubull account to access the feature.$TeraWulf (WULF.US)$Please use your Futubull account to access the feature.$Bit Digital (BTBT.US)$ Up more than 3%, Wheaton Precious Metals (WPM.US) fell more than 13%, with silver falling more than 4%, and others falling more than 2%. $MicroStrategy (MSTR.US)$ Rising nearly 3%, $Coinbase (COIN.US)$ The TOPIX index rose more than 2%.
Currently, $Bitcoin (BTC.CC)$ Strongly pulling up by nearly 2%, breaking through $64,000.
Analyst Paul Golding mentioned fundamental drivers, including "loose fiscal policies, loose monetary policies, concerns about sovereign debt crises, capital controls, geopolitical unrest, institutional value transfers, cross-border payments, web3, and more."
Furthermore, in a report on Tuesday, he wrote, "In our view, the concentration of bulk commodity resources such as electrical infrastructure, computing, and bandwidth represents tangible value beyond the expected appreciation of bitcoin."
The analyst pointed out that some bitcoin miners are increasingly transitioning to high-performance computing infrastructure for artificial intelligence to boost revenue.
He noted, "Operating artificial intelligence cloud products from bitcoin mining facilities is still in its early stages, yet if the search for computing on a massive scale is generally embraced by miners, we might see this value game materialize in a potential, colossal way."
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Editor/Somer