KBW Rates Bitcoin Miners Bitdeer, CleanSpark, and Core Scientific as Outperform: What You Should Know

Overview

Bitcoin (BTC) miners Bitdeer Technologies (BTDR), CleanSpark (CLSK), and Core Scientific (CORZ) have been initiated with an outperform rating by KBW, as noted in a recent report.

Company Insights

• Bitdeer is highlighted for its diverse exposure to the bitcoin mining business model, enhanced by a growing ASIC manufacturing segment. It also has an AI/high performance computing (HPC) unit that includes a live cloud service platform and a robust power pipeline for future hosting opportunities.
• CleanSpark is among the largest publicly listed miners, targeting a 50 EH/s hashrate for mid-2025. Its efficient mining fleet provides strong unit economics and significant BTC production.
• Core Scientific is well-positioned to secure incremental capacity, supported by an engineering team experienced in data center operations, alongside its notable bitcoin mining contracts.

Price Targets

• Bitdeer: Price target of $26.50; current trading around $20.60.
• CleanSpark: Price target of $19.
• Core Scientific: Price target of $22; currently trading at approximately $16.

Market Position

KBW continues to favor Galaxy Digital (GLXY) as its top pick in the digital assets space.

Bitcoin miners Bitdeer, CleanSpark, and Core Scientific initiated at outperform: KBW. (Shutterstock)

Additional Reading

Read more: Bitcoin Mining Economics Expected to be Stable, Profitable in 2025, Canaccord Says