Bernstein Upgrade Miners (Patreon)

Bernstein said U.S.-listed bitcoin miners are shifting from chasing bitcoin gains to monetizing power infrastructure. The firm replaced its discounted cash flow valuation model with a sum-of-parts approach to reflect AI colocation and data center exposure.

The broker updated its price targets: CORZ raised to $24 from $17, RIOT hiked to $25 from $19, and CLSK $24 from $20.

Note I hedged CLSK at $24 a few weeks ago- I sold the Dec $24 for nearly $4 avg against my position. This means I am covered up to $28 before i start to lose money - but if CLSK falls below $20 I also lose - ie would have been better off selling.