American Bitcoin initiated with a Buy at H.C. Wainwright

H.C. Wainwright initiated coverage of American Bitcoin (ABTC) with a Buy rating and $4 price target The company offers direct exposure to bitcoin through its “opportunistic” self-mining and spot accumulation, the analyst tells investors in a research note. The firm says the company supplies infrastructure, power collocation, and operating management under long-term agreements. H.C. Wainwright does “not think bitcoin mining goes away entirely.”