• bitcoinBitcoin (BTC) $ 113,098.00
  • ethereumEthereum (ETH) $ 4,113.01
  • tetherTether (USDT) $ 1.00
  • bnbBNB (BNB) $ 1,218.28
  • xrpXRP (XRP) $ 2.49
  • solanaSolana (SOL) $ 200.58
  • usd-coinUSDC (USDC) $ 0.999805
  • staked-etherLido Staked Ether (STETH) $ 4,109.71
  • dogecoinDogecoin (DOGE) $ 0.203591
  • tronTRON (TRX) $ 0.316194
  • cardanoCardano (ADA) $ 0.694074
  • wrapped-stethWrapped stETH (WSTETH) $ 4,998.82
  • wrapped-beacon-ethWrapped Beacon ETH (WBETH) $ 4,426.40
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 113,141.00
  • chainlinkChainlink (LINK) $ 18.98
  • figure-helocFigure Heloc (FIGR_HELOC) $ 0.991161
  • ethena-usdeEthena USDe (USDE) $ 0.999860
  • wrapped-eethWrapped eETH (WEETH) $ 4,433.10
  • stellarStellar (XLM) $ 0.334555
  • bitcoin-cashBitcoin Cash (BCH) $ 536.49
  • hyperliquidHyperliquid (HYPE) $ 39.37
  • suiSui (SUI) $ 2.82
  • avalanche-2Avalanche (AVAX) $ 22.66
  • wethWETH (WETH) $ 4,111.09
  • binance-bridged-usdt-bnb-smart-chainBinance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00
  • leo-tokenLEO Token (LEO) $ 9.63
  • usdsUSDS (USDS) $ 0.999774
  • hedera-hashgraphHedera (HBAR) $ 0.186592
  • coinbase-wrapped-btcCoinbase Wrapped BTC (CBBTC) $ 113,094.00
  • usdt0USDT0 (USDT0) $ 1.00
  • litecoinLitecoin (LTC) $ 97.45
  • mantleMantle (MNT) $ 1.98
  • shiba-inuShiba Inu (SHIB) $ 0.000011
  • whitebitWhiteBIT Coin (WBT) $ 42.88
  • the-open-networkToncoin (TON) $ 2.29
  • ethena-staked-usdeEthena Staked USDe (SUSDE) $ 1.20
  • moneroMonero (XMR) $ 308.42
  • crypto-com-chainCronos (CRO) $ 0.162664
  • polkadotPolkadot (DOT) $ 3.24
  • daiDai (DAI) $ 0.999400
  • bittensorBittensor (TAO) $ 456.32
  • uniswapUniswap (UNI) $ 6.76
  • world-liberty-financialWorld Liberty Financial (WLFI) $ 0.144754
  • zcashZcash (ZEC) $ 240.20
  • aaveAave (AAVE) $ 252.76
  • okbOKB (OKB) $ 180.35
  • memecoreMemeCore (M) $ 2.03
  • bitget-tokenBitget Token (BGB) $ 4.85
  • pepePepe (PEPE) $ 0.000007
  • ethenaEthena (ENA) $ 0.434206
  • nearNEAR Protocol (NEAR) $ 2.45
  • aster-2Aster (ASTER) $ 1.49
  • jito-staked-solJito Staked SOL (JITOSOL) $ 247.54
  • blackrock-usd-institutional-digital-liquidity-fundBlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00
  • usd1-wlfiUSD1 (USD1) $ 0.999931
  • susdssUSDS (SUSDS) $ 1.07
  • aptosAptos (APT) $ 3.67
  • ethereum-classicEthereum Classic (ETC) $ 16.88
  • paypal-usdPayPal USD (PYUSD) $ 0.999915
  • c1usdCurrency One USD (C1USD) $ 1.00
  • ondo-financeOndo (ONDO) $ 0.792554
  • binance-peg-wethBinance-Peg WETH (WETH) $ 4,109.99
  • falcon-financeFalcon USD (USDF) $ 0.999202
  • jupiter-perpetuals-liquidity-provider-tokenJupiter Perpetuals Liquidity Provider Token (JLP) $ 5.58
  • polygon-ecosystem-tokenPOL (ex-MATIC) (POL) $ 0.201575
  • story-2Story (IP) $ 6.55
  • worldcoin-wldWorldcoin (WLD) $ 0.954485
  • binance-staked-solBinance Staked SOL (BNSOL) $ 215.82
  • gatechain-tokenGate (GT) $ 16.16
  • internet-computerInternet Computer (ICP) $ 3.54
  • htx-daoHTX DAO (HTX) $ 0.000002
  • kucoin-sharesKuCoin (KCS) $ 14.29
  • arbitrumArbitrum (ARB) $ 0.342738
  • rocket-pool-ethRocket Pool ETH (RETH) $ 4,704.34
  • usdtbUSDtb (USDTB) $ 1.00
  • algorandAlgorand (ALGO) $ 0.204611
  • pi-networkPi Network (PI) $ 0.216006
  • hash-2Provenance Blockchain (HASH) $ 0.035500
  • chainopera-aiChainOpera AI (COAI) $ 9.02
  • bfusdBFUSD (BFUSD) $ 0.999971
  • wbnbWrapped BNB (WBNB) $ 1,218.52
  • kelp-dao-restaked-ethKelp DAO Restaked ETH (RSETH) $ 4,338.35
  • vechainVeChain (VET) $ 0.019126
  • cosmosCosmos Hub (ATOM) $ 3.47
  • kaspaKaspa (KAS) $ 0.060418
  • tether-goldTether Gold (XAUT) $ 4,153.97
  • stakewise-v3-osethStakeWise Staked ETH (OSETH) $ 4,336.14
  • pudgy-penguinsPudgy Penguins (PENGU) $ 0.024656
  • kinetic-staked-hypeKinetiq Staked HYPE (KHYPE) $ 39.28
  • liquid-staked-ethereumLiquid Staked ETH (LSETH) $ 4,436.16
  • render-tokenRender (RENDER) $ 2.84
  • skySky (SKY) $ 0.062577
  • flare-networksFlare (FLR) $ 0.019014
  • pump-funPump.fun (PUMP) $ 0.004099
  • sei-networkSei (SEI) $ 0.224703
  • lombard-staked-btcLombard Staked BTC (LBTC) $ 113,125.00
  • renzo-restaked-ethRenzo Restaked ETH (EZETH) $ 4,358.51
  • quant-networkQuant (QNT) $ 89.59
  • pax-goldPAX Gold (PAXG) $ 4,158.53
  • official-trumpOfficial Trump (TRUMP) $ 6.29
  • bonkBonk (BONK) $ 0.000016
  • nexoNEXO (NEXO) $ 1.22
  • pancakeswap-tokenPancakeSwap (CAKE) $ 3.52
  • jupiter-exchange-solanaJupiter (JUP) $ 0.374112
  • filecoinFilecoin (FIL) $ 1.67
  • syrupusdcSyrup USDC (SYRUPUSDC) $ 1.13
  • binance-bridged-usdc-bnb-smart-chainBinance Bridged USDC (BNB Smart Chain) (USDC) $ 0.999888
  • solv-btcSolv Protocol BTC (SOLVBTC) $ 112,953.00
  • spx6900SPX6900 (SPX) $ 1.21
  • immutable-xImmutable (IMX) $ 0.572696
  • xdce-crowd-saleXDC Network (XDC) $ 0.060450
  • first-digital-usdFirst Digital USD (FDUSD) $ 0.997862
  • mantle-staked-etherMantle Staked Ether (METH) $ 4,417.85
  • morphoMorpho (MORPHO) $ 1.93
  • jupiter-staked-solJupiter Staked SOL (JUPSOL) $ 229.10
  • doublezeroDoubleZero (2Z) $ 0.283431
  • celestiaCelestia (TIA) $ 1.15
  • injective-protocolInjective (INJ) $ 9.53
  • arbitrum-bridged-wbtc-arbitrum-oneArbitrum Bridged WBTC (Arbitrum One) (WBTC) $ 113,195.00
  • clbtcclBTC (CLBTC) $ 116,022.00
  • solmevSolMev (SN116) $ 2,398.72
  • fasttokenFasttoken (FTN) $ 2.01
  • lido-daoLido DAO (LDO) $ 0.963435
  • optimismOptimism (OP) $ 0.482125
  • blockstackStacks (STX) $ 0.467255
  • ripple-usdRipple USD (RLUSD) $ 0.999862
  • msolMarinade Staked SOL (MSOL) $ 266.67
  • curve-dao-tokenCurve DAO (CRV) $ 0.587501
  • fetch-aiArtificial Superintelligence Alliance (FET) $ 0.316933
  • plasmaPlasma (XPL) $ 0.451198
  • aerodrome-financeAerodrome Finance (AERO) $ 0.888059
  • ousgOUSG (OUSG) $ 112.93
  • cgeth-hashkey-cloudcgETH Hashkey Cloud (CGETH.HASH) $ 3,925.27
  • sonic-3Sonic (S) $ 0.200011
  • l2-standard-bridged-weth-baseL2 Standard Bridged WETH (Base) (WETH) $ 4,111.13
  • the-graphThe Graph (GRT) $ 0.069741
  • superstate-short-duration-us-government-securities-fund-ustbSuperstate Short Duration U.S. Government Securities Fund (USTB) (USTB) $ 10.85
  • global-dollarGlobal Dollar (USDG) $ 0.999876
  • flokiFLOKI (FLOKI) $ 0.000074
  • pyth-networkPyth Network (PYTH) $ 0.123429
  • ondo-us-dollar-yieldOndo US Dollar Yield (USDY) $ 1.10
  • usdx-money-usdxStables Labs USDX (USDX) $ 0.997797
  • saros-financeSaros (SAROS) $ 0.258323
  • havvenSynthetix (SNX) $ 1.97
  • tbtctBTC (TBTC) $ 112,414.00
  • tezosTezos (XTZ) $ 0.622665
  • kaiaKaia (KAIA) $ 0.112662
  • arbitrum-bridged-weth-arbitrum-oneArbitrum Bridged WETH (Arbitrum One) (WETH) $ 4,111.27
  • ether-fiEther.fi (ETHFI) $ 1.23
  • gtethGTETH (GTETH) $ 4,119.18
  • stader-ethxStader ETHx (ETHX) $ 4,404.57
  • aethirAethir (ATH) $ 0.043883
  • newton-projectAB (AB) $ 0.007586
  • pendlePendle (PENDLE) $ 3.63
  • iotaIOTA (IOTA) $ 0.150674
  • conflux-tokenConflux (CFX) $ 0.116611
  • usdaiUSDai (USDAI) $ 1.03
  • myx-financeMYX Finance (MYX) $ 3.12
  • beldexBeldex (BDX) $ 0.079088
  • trust-wallet-tokenTrust Wallet (TWT) $ 1.40
  • dogwifcoindogwifhat (WIF) $ 0.579637
  • theta-tokenTheta Network (THETA) $ 0.572781
  • dashDash (DASH) $ 45.46
  • coinbase-wrapped-staked-ethCoinbase Wrapped Staked ETH (CBETH) $ 4,521.67
  • ethereum-name-serviceEthereum Name Service (ENS) $ 16.90
  • galaGALA (GALA) $ 0.012002
  • the-sandboxThe Sandbox (SAND) $ 0.225754
  • usual-usdUsual USD (USD0) $ 0.998687
  • starknetStarknet (STRK) $ 0.127157
  • swethSwell Ethereum (SWETH) $ 4,518.83
  • virtual-protocolVirtuals Protocol (VIRTUAL) $ 0.818990
  • mantle-restaked-ethMantle Restaked ETH (CMETH) $ 4,407.54
  • raydiumRaydium (RAY) $ 2.00
  • bitcoin-avalanche-bridged-btc-bAvalanche Bridged BTC (Avalanche) (BTC.B) $ 113,041.00
  • rna-2RNA (SN117) $ 4,708.96
  • jasmycoinJasmyCoin (JASMY) $ 0.010804
  • binance-peg-dogecoinBinance-Peg Dogecoin (DOGE) $ 0.203313
  • decentralandDecentraland (MANA) $ 0.270494
  • bittorrentBitTorrent (BTT) $ 0.00000052
  • eigenlayerEigenCloud (prev. EigenLayer) (EIGEN) $ 1.33
  • swissborgSwissBorg (BORG) $ 0.516449
  • mantle-bridged-usdt-mantleMantle Bridged USDT (Mantle) (USDT) $ 0.997785
  • astherus-staked-bnbAster Staked BNB (ASBNB) $ 1,286.85
  • vaultaVaulta (A) $ 0.314248
  • true-usdTrueUSD (TUSD) $ 0.999593
  • arbitrum-bridged-wrapped-eethArbitrum Bridged Wrapped eETH (Arbitrum) (WEETH) $ 4,427.75
  • syrupMaple Finance (SYRUP) $ 0.439163
  • steakhouse-usdc-morpho-vaultSteakhouse USDC Morpho Vault (STEAKUSDC) $ 1.10
  • usddUSDD (USDD) $ 1.00
  • flowFlow (FLOW) $ 0.296079
  • bridged-usdc-polygon-pos-bridgePolygon Bridged USDC (Polygon PoS) (USDC.E) $ 0.999783
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  • sun-tokenSun Token (SUN) $ 0.024080
  • ai-companionsAI Companions (AIC) $ 0.460109
  • bitcoin-svBitcoin SV (BSV) $ 22.68
  • jito-governance-tokenJito (JTO) $ 1.16
  • polygon-pos-bridged-weth-polygon-posPolygon PoS Bridged WETH (Polygon POS) (WETH) $ 4,106.48
  • frax-etherFrax Ether (FRXETH) $ 4,069.98
Mining

Bitcoin Mining Opportunity Is Worth About $74B, JPMorgan Says

By admin
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Bitcoin Mining Opportunity Is Worth About $74B, JPMorgan Says

The bank reduced its CLSK, IREN, MARA and RIOT price targets to account for second-quarter results and changes in the price of bitcoin and the network hashrate.

JPMorgan prefers Iren and Riot Platforms, and says recent underperformance in these stocks presents a buying opportunity.

The bank estimates the notional value of the remaining bitcoin to be produced by miners at around $74 billion.

At current bitcoin (BTC) prices, the value of the remaining 1.3 million tokens left to be mined is about $74 billion, JPMorgan (JPM) said in a research report on Friday.

The bank reduced its price targets for some of the miners it covers to reflect second-quarter results and changes in both the price of bitcoin and the network hashrate. Hashrate refers to the total combined computational power used to mine and process transactions on a proof-of-work blockchain.

JPMorgan cut its CleanSpark (CLSK) price target to $10.50 from $12.50 while maintaining its neutral rating on the shares. It reduced the Iren (IREN) price target to $9.50 from $11 and kept its overweight rating. Underweight-rated Marathon Digital’s (MARA) price objective was lowered to $12 from $14, and overweight-rated Riot Platforms’ (RIOT) price objective was trimmed to $9.50 from $12.

The four-year block reward revenue opportunity is estimated to be around $37 billion, a drop of 19% since early June, but up 85% year-on-year, the report said.

The bank prefers Iren and Riot, and said recent underperformance in these stocks presents a buying opportunity for investors.

Riot has underperformed the sector year-to-date due to “operational snags,” but JPMorgan sees the potential for better sentiment and share-price upside in the coming months due to enhanced uptime and production metrics.

The bank noted that Iren has traded lower in recent weeks after reporting a sharp rise in power costs in July in relation to hedging losses. JPMorgan says these missteps are correctable and present a nice buying opportunity.



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