3 months ago
Bitcoin (BTC) miners listed successful the U.S. are increasing their stock of the web hashrate, broker Bernstein said successful a study Monday.
The hashrate refers to the full combined computational powerfulness utilized to excavation and process transactions connected a proof-of-work blockchain and is simply a proxy for contention successful the manufacture and mining difficulty.
"U.S. listed bitcoin miners are expanding their stock of the web hashrate, leveraging entree to capital, onshore and power," analysts led by Gautam Chhugani wrote.
These companies grew their stock of the Bitcoin web to astir 29% successful January, from astir 20% a twelvemonth ago, the study said, adding that ample miners aggressively expanded their hashrates successful 2024.
IREN (IREN) is increasing its hashrate the fastest, followed by CleanSpark (CLSK), Riot Platforms (RIOT), and MARA Holdings (MARA), Bernstein said.
Bernstein has an outperform standing connected IREN (PT $26), CleanSpark (PT $30) and Riot Platforms (PT $22). MARA Holdings (PT $23) is market-perform rated.
IREN, MARA Holdings and CleanSpark each performed good connected "power ratio and uptime" the study added.
Wall Street slope JPMorgan (JPM) said January was a quiescent period for hashrate growth.
Read more: Bitcoin Network Hashrate Growth Was Muted successful January: JPMorgan
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