KBW gives mining companies Bitdeer, CleanSpark and Core Scientific "outperform" ratings

investment bank KBW released a research report covering three major Bitcoin mining companies for the first time: Bitdeer (BTDR), CleanSpark (CLSK), and Core Scientific (CORZ), all of which were given an "outperform" rating. KBW gave the three companies target prices of $26.50, $19, and $22, respectively.

KBW believes that in addition to its mining business, Bitdeer also has a growing ASIC manufacturing department and an AI/HPC cloud service platform; CleanSpark has the most efficient mining equipment in the industry and plans to achieve about 50 EH/s of computing power by mid-2025; and Core Scientific has a competitive advantage through its 12-year AI/HPC hosting service contract with CoreWeave and an experienced data center operations team.

It is worth noting that KBW still considers Galaxy Digital (GLXY) as the preferred target in the digital asset field.