$90,938.00
-0.31%$3,159.67
1.97%$217.08
-0.67%$626.57
1.50%$1.14
25.62%$0.370114
-1.73%$0.999915
0.09%$3,159.72
2.07%$0.748181
10.77%$0.201228
6.36%$5.72
6.64%$0.00002464
-3.42%$35.31
6.96%$3,744.70
2.46%$90,712.00
-0.41%$3.75
5.95%$470.84
8.39%$3,158.77
1.79%$14.64
6.27%$0.00002146
-4.54%$5.76
12.48%$96.65
15.08%$5.92
5.95%$7.67
0.34%$12.44
5.32%$0.220504
55.10%$3,322.08
2.79%$9.22
8.59%$0.994788
0.08%$0.164966
-2.06%$9.28
6.63%$27.10
17.79%$521.79
0.68%$0.145664
4.38%$3.66
-6.64%$1.34
4.16%$0.091432
26.43%$0.432074
16.43%$0.00004779
6.49%$1.002
0.02%$22.24
-0.25%$2.00
6.13%$0.743301
22.01%$4.76
13.55%$7.08
0.68%$150.65
5.78%$45.35
3.97%$1.001
0.07%$0.03154207
20.40%$169.99
3.98%$0.754336
4.50%$25.88
4.70%$0.00024809
-5.41%$6.05
14.99%$0.547526
18.79%$1.37
10.36%$1.80
13.78%$5.27
6.18%$2.43
8.62%$0.759628
6.30%$0.206567
12.69%$1.39
2.24%$3,162.15
2.23%$5.62
0.80%$1.76
-8.26%$1.69
-5.08%$0.168211
-5.39%$3,538.56
3.23%$0.197281
8.13%$2.41
5.16%$0.555811
2.49%$0.430195
2.25%$1.13
-0.51%$3,317.98
2.08%$1.52
11.12%$90,569.00
-0.44%$3,240.95
2.26%$1.001
14.33%$71.71
8.35%$4.81
-0.65%$90,993.00
-0.19%$1,515.86
5.03%$11.00
1.94%$90.53
37.01%$1.24
-0.22%$9.68
2.80%$18.52
4.49%$0.03045688
15.40%$268.12
-0.39%$0.02190808
18.32%$0.02171862
5.83%$0.00000116
5.32%$1.24
6.34%$0.02280953
8.85%$0.684284
9.51%$0.00000266
-4.15%$6.00
-0.04%$0.678829
16.88%$3,145.79
2.20%$3.09
-0.41%$0.43235
15.88%$0.01122617
-3.13%$0.475111
5.82%$90,319.00
-0.78%$0.00004801
7.11%$1.37
-4.12%$1.33
7.09%$0.992935
6.67%$12.91
12.05%$90,541.00
-0.51%$5.93
12.58%$0.37603
29.20%$5.45
3.92%$90,656.00
-0.37%$11.05
-6.74%$229.21
-0.36%$31.60
9.77%$0.764087
-1.67%$0.00204354
-5.45%$0.843679
12.99%$40.10
3.05%$1.16
7.04%$3.37
2.50%$0.698494
10.01%$1.26
3.67%$0.138565
7.50%$0.430169
24.81%$0.0078158
4.30%$0.370284
-1.67%$0.999114
0.28%$0.161676
8.93%$0.04939848
62.52%$3,262.02
3.00%$3,160.89
1.84%$0.01027054
-3.66%$0.075376
12.38%$0.251646
6.91%$44.81
16.12%$261.45
4.75%$0.790521
15.02%$0.995884
-0.01%$2.17
5.04%$0.00011701
13.75%$0.681676
7.35%$0.670853
-7.61%$3,155.96
1.74%$2.60
-8.33%$2,563.93
-0.10%$0.00907188
0.36%$1.37
7.61%$18.51
8.07%$0.01360744
6.64%$0.172271
12.12%$1.33
7.16%$219.59
-0.53%$33.61
6.48%$0.085732
8.80%$0.577193
-6.69%$3,421.78
1.84%$0.00578138
18.43%$0.577414
-8.28%$1.71
10.60%$0.15141
5.76%$1.95
5.98%$1.087
4.17%$0.081438
-1.05%$1.50
4.57%$0.00000026
2.03%$9.29
4.66%$1.00
0.12%$0.263565
11.46%$90,826.00
-0.18%$0.527967
-6.75%$3,158.57
1.92%$4.31
-1.15%$0.00149656
-3.58%$2,565.71
-0.07%$0.998854
0.17%$0.0000005
4.51%$3,147.58
2.45%$0.260987
9.39%$0.160462
7.08%$0.064367
8.50%$2.53
3.67%$89,362.00
-1.64%$52.18
7.93%$0.425443
7.80%$90,683.00
-0.35%$3,156.86
1.89%$0.04756993
-4.14%$9.12
9.14%$0.01458601
0.30%$0.054659
7.23%$1.05
-1.09%$1.00
0.07%$0.062989
7.96%$3,159.41
1.65%$0.00518635
18.73%$0.338387
16.25%$3.75
6.07%$0.99083
1.86%$0.00126842
19.71%$98.99
-0.60%$3,384.75
1.87%$11.42
9.09%$0.00
0.42%$1.004
0.72%$6.67
-0.53%$0.0431199
6.16%$0.315724
9.95%$1.066
-0.30%$0.00752379
6.91%$3,301.80
3.58%$0.02061271
13.95%$0.02308587
-15.18%$0.759034
1.63%$0.363923
42.12%$0.00215859
4.66%$3.53
6.61%$0.678515
9.52%$3,478.27
2.07%$1.004
0.42%$1,825.38
-0.39%$0.363222
6.58%$1.68
3.95%$29.94
8.83%$1.00
0.03%$2.77
-1.94%$0.512541
9.42%$90,768.00
-0.20%$41.08
6.95%$1.68
8.79%$0.00005157
1.22%$0.346854
17.09%$22.02
11.85%$0.03491828
3.34%$3,343.36
1.79%$0.403149
12.29%$0.00066211
3.15%$0.306174
20.59%$0.822393
4.99%$5.20
15.70%$3.20
11.98%$0.066075
0.52%$0.376538
8.97%$0.03333521
8.90%$90,455.00
-0.72%$0.598679
4.61%
Brokerage firm Bernstein has advised buying Bitcoin mining stocks to gain indirect exposure to the cryptocurrency ahead of the upcoming BTC halving.
In a research report, Bernstein analysts recommended Riot Platforms (RIOT) and CleanSpark (CLSK) as the firm's preferred picks among Bitcoin mining stocks, noting that, "most of the U.S. listed miners look relatively well positioned," at Bitcoin's current price level, "even if their costs double post halving."
The Bitcoin halving, which takes place roughly every four years, sees the rewards received by Bitcoin miners for successfully completing a block halved. In the next halving, expected to take place in April 2024, the reward will be slashed from 6.25 BTC to 3.125 BTC.
Citing "positive ETF flows momentum, resilient BTC price action and healthy miners adding capacity into the halving," the report's authors said that they see the institutional narrative led by spot Bitcoin ETFs driving demand, adding, "we expect higher price will bring higher ETF inflows, leading to new highs in 2024."
CleanSpark, one of Bernstein's recommended picks, recently announced that it had purchased three Bitcoin mining facilities in Mississippi for $19.8 million in cash, boosting its capacity by 2.4 exahashes per second (EH/s) ahead of the halving. The firm also entered agreements to acquire a mining facility under construction in Dalton, Georgia, expected to operate at 0.8 EH/s, with about $6.9 million in further investment.
Riot Platforms, meanwhile, announced plans to partner with China-based mining equipment manufacturer MicroBT, with a long-term purchase agreement that will see the mining firm buy an initial order of 33,280 machines at a price of $21.50 per terahash, roughly $163 million, with an option for 66,560 machines before the end of the year at the same price. Riot's 400-megawatt Corsicana facility in Texas is set to come online in March 2024, just ahead of the halving.
Riot's Corsicana Facility is underway!⚡️The 400MW substation is expected to be energized by the end of March 2024, and the first 100MW building, A1, will commence operations immediately thereafter. Additional buildings comprising the 400MW Phase 1 buildout of the Corsicana… pic.twitter.com/in1rWQLf4w
— Riot Platforms, Inc. (@RiotPlatforms) February 8, 2024
The Bernstein report authors also identified Bitcoin ETF inflows as an additional bullish indicator, noting that, "the overall market will lean bullish and reflexivity should ensure a higher price-higher inflows feedback loop."
Edited by Stacy Elliott.
