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Bernstein lowers target prices for multiple listed Bitcoin mining companies, but maintains the BTC year-end target price of $200,000 unchanged.
Brokerage firm Bernstein lowered the price targets of a number of publicly traded bitcoin miners, including IREN, CleanSpark and Riot Platforms, as their share prices have underperformed BTC so far this year. Analyst Gautam Chhugani explained that Bitcoin miners have experienced a painful correction this year, falling 20-40%, while Bitcoin is down 10%, and overall, the price action of listed miners has been disappointing, with no significant gains in the fourth quarter of last year, and the year-to-date performance has been worse than Bitcoin's correction. （The Block）