JPMorgan Upgrades Cipher Mining and CleanSpark as Bitcoin Miners Expand Into HPC

JPMorgan has upgraded ratings for select U.S.-listed bitcoin mining companies pivoting toward high-performance computing services. Cipher Mining received an Overweight rating with a price target of $18, while CleanSpark was also upgraded to Overweight. The investment bank cites secured HPC contracts and expanding data center capacity as key drivers for the improved outlook.