KBW report highlights unique strength for BTDR, CLSK, and CORZ in AI ventures, efficient mining operations, and hosting services.
For the first time since September 2024, Bitcoin mining difficulty dropped by 2.12% to 108.11 trillion.
This ensures network stability despite miner activity changes, aligning with broader market dynamics.
Bitcoin mining stocks have once again been on investors’ radar. Investment bank KBW has initiated a report with a buy call for three Bitcoin mining firms: Bitdeer Technologies (NASDAQ: BTDR), CleanSpark (NASDAQ: CLSK), and Core Scientific (NASDAQ: CORZ). The bank noted that the three Bitcoin mining companies provide different levels of exposure to the leading cryptocurrency.
Bitcoin Mining Stocks Show Promising Trends
Investment bank KBW explained the reasons behind choosing these three Bitcoins such as venturing into AI space, expanding market share, and much more.
The KBW report mentions that Bitdeer (NASDAQ: BTDR) is offering diversified exposure to the Bitcoin mining sector, bolstered by its growing ASIC manufacturing division. Additionally, the company also operates an artificial intelligence (AI) and high-performance computing (HPC) unit while featuring a cloud service platform along with a strong power infrastructure.
KBW has set a price target of $26.50 for Bitdeer’s shares, which traded 0.3% lower at approximately $20.60 in early trading. In the last six months, the Bitdeer stock is up by 115%.
Bitcoin mining firm ClearSpark (NASDAQ: CLSK) is gaining recognition as one of the largest publicly traded Bitcoin miners under the bank’s coverage. The company is targeting a hashrate of approximately 50 exahashes per second (EH/s) by mid-2025.
Furthermore, CleanSpark boasts of having one of the most efficient mining fleets in the industry by delivering “strong unit economics and outsized BTC production”. As a result, KBW has assigned CleanSpark a price target of $19. Note that the Bitcoin mining stock is currently trading at $11.53 with 22% gains so far in January 2025.
The KBW report noted that Core Scientific (NASDAQ: CORZ) provides exposure to one of the most significant AI/high-performance computing (HPC) hosting contracts in the sector. This happened due to its 12-year deal with CoreWeave inked last year.
Alongside its Bitcoin mining operations, Core Scientific is preparing to “secure incremental capacity,” leveraging an engineering team with extensive experience in data center operations. As a result, the investment bank has initiated coverage of Core Scientific shares with a $22 price target. The stock was trading steady at $16 on Monday. Over the past six months, the CORZ stock is up by 67%, with 10% gains since the beginning of 2025.
Bitcoin Mining Difficulty Drops First Time since September 2024
The latest data shows that the Bitcoin mining difficulty has decreased for the first time since September 2024. Data from shows the difficulty level fell by 2.12% at block height 880,992 on January 27, breaking an eight-cycle streak of consistent increases. This adjustment reduced the difficulty from its previous record of 110.45 trillion to 108.11 trillion.
The Bitcoin mining difficulty adjusts every two weeks or after 2,016 blocks as per the blockchain’s inbuilt mechanism. This system ensures a stable block discovery time of 10 minutes, maintaining network stability regardless of fluctuations in miner activity.
