BTIG has raised its price target for crypto miner Core Scientific Inc (NASDAQ🙂 to $15 from $10, citing new data center contracts and growth potential in the mining sector.Â
BTIG’s BTC mining basket, comprising 14 companies, has an aggregate hash rate of about 138 EH, which represents 23% of the global hash rate. The hash rate is expected to grow to 153 EH by 2025, driven by new rigs that improve fleet efficiency.
Bitcoin’s price currently hovers around $62,000, up 45% year-to-date, with miners’ margins benefiting from higher prices. The global hash rate averaged 582 EH in June, down from 600 EH in May but up 57% from last year. Network (LON:) difficulty has steadily increased, up 60% over the past year and 16% year-to-date.
Meanwhile,…
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