JPMorgan Chase updates ratings of listed Bitcoin mining companies: some are adjusted back to neutral, and target prices of stocks of several companie

JPMorgan Chase announced updates to the Bitcoin mining company ratings and stock price targets based on the fourth quarter performance report for 2024, including:

1. Upgraded the rating of IREN from Neutral to Buy, but lowered its target price from $15 to $12;

2. Downgraded the rating of Cipher Mining from Buy to Neutral, while withdrawing the $8 target price;

3. Reiterated Buy ratings for Riot Platforms and CleanSpark, and lowered their target prices to $13 and $12 respectively;

4. MARA Holdings (MARA) is rated Neutral, with the target price lowered from $23 to $18 for the company.