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From: Julius Wong	12/29/2024 11:20:35 PM
	1 Recommendation of 8255

Bitcoin miners MARA, CleanSpark, Cipher upgraded at J.P. Morgan Dec. 10, 2024 9:35 AM ET By: Max Gottlich, SA News Editor NiseriN/iStock via Getty Images J.P. Morgan analyst Reginald Smith on Tuesday upgraded CleanSpark (NASDAQ: CLSK) and Cipher Mining (NASDAQ: CIFR) shares to Overweight from Neutral, and also MARA Holdings (NASDAQ: MARA) to Neutral from Underweight, against a backdrop of a strong crypto market rally. Over the past month, Smith pointed out, (NASDAQ: CLSK) and (NASDAQ: CIFR) shares have fallen, while the price of bitcoin rose markedly. Bitcoin mining stocks and the underlying token price have traditionally shared a strong relationship; however, miners' shift to AI has gradually weakened this bond. "We see Cipher as best positioned to sign a colocation agreement in the near term (3-6 months) within our coverage universe, which we think would contribute additional share upside," the note said.

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