JPMorgan raised the firm’s price target on CleanSpark (CLSK) to $14 from $12 and keeps an Overweight rating on the shares. The firm updated bitcoin miner price targets and models to reflect the Q1 results and changes in bitcoin price and the network hashrate. JPMorgan applied a sum-of-the-parts valuation framework, which values miners based on their mining operation, land and power portfolio, and bitcoin holdings.
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