Key Points
- KBW bank has initiated a buy call for three Bitcoin mining firms: Bitdeer Technologies, CleanSpark, and Core Scientific.
- Bitcoin mining difficulty has dropped for the first time since September 2024.
Investment bank KBW has recommended three Bitcoin mining firms for investment. The companies are Bitdeer Technologies (NASDAQ: BTDR), CleanSpark (NASDAQ: CLSK), and Core Scientific (NASDAQ: CORZ). These firms offer varying levels of exposure to Bitcoin.
Why These Bitcoin Mining Stocks?
KBW’s decision to recommend these three Bitcoin mining companies is based on factors such as their venture into the AI space, expanding market share, and more.
Details on the Recommended Companies
Bitdeer (NASDAQ: BTDR) is a diversified player in the Bitcoin mining sector. It has a growing ASIC manufacturing division and operates an AI and high-performance computing (HPC) unit. The company also has a cloud service platform and a robust power infrastructure. Bitdeer’s shares are priced at $26.50, and its stock has risen by 115% in the past six months.
CleanSpark (NASDAQ: CLSK), a Bitcoin mining firm, is one of the largest publicly traded Bitcoin miners. The company aims to achieve a hashrate of about 50 exahashes per second (EH/s) by mid-2025. CleanSpark has one of the industry’s most efficient mining fleets, producing strong unit economics and outsized Bitcoin production. KBW has given CleanSpark a price target of $19. The company’s stock is currently trading at $11.53, with a 22% gain since January 2025.
Core Scientific (NASDAQ: CORZ) offers exposure to one of the most significant AI/high-performance computing (HPC) hosting contracts in the sector due to its 12-year deal with CoreWeave. In addition to its Bitcoin mining operations, Core Scientific is preparing to secure incremental capacity. KBW has initiated coverage of Core Scientific shares with a $22 price target. The stock was trading steady at $16 on Monday. Over the past six months, the CORZ stock is up by 67%, with 10% gains since the beginning of 2025.
Drop in Bitcoin Mining Difficulty
Data from CloverPool shows that the Bitcoin mining difficulty has decreased for the first time since September 2024. The difficulty level fell by 2.12% at block height 880,992 on January 27, breaking an eight-cycle streak of consistent increases. This adjustment reduced the difficulty from its previous record of 110.45 trillion to 108.11 trillion.
The Bitcoin mining difficulty adjusts every two weeks or after 2,016 blocks according to the blockchain’s inbuilt mechanism. This system ensures a stable block discovery time of 10 minutes, maintaining network stability regardless of fluctuations in miner activity.
