Market Rout Prompts Analyst to Slash Bitcoin Miners’ Price Targets by Average of 65%

Lewis kept his buy rating on all four mining stocks he covers – Riot Blockchain (RIOT), CleanSpark (CLSK), Core Scientific (CORZ) and Marathon Digital (MARA) – and remains optimistic about the longer-term outlook for the industry. “Not surprisingly, our BTC mining price targets are highly sensitive to our BTC price estimate; hence a near-term BTC price of ~$40K points to 30%-40% upside to our price targets, while a BTC price of $50K points to 90%-100% upside to our price targets,” he wrote.