Rosenblatt cuts bitcoin miner price targets as profitability sinks; favors AI shift

Rosenblatt Securities lowered price targets and financial estimates for several bitcoin mining companies Friday, citing a sharp decline in mining profitability that highlights the growing importance ofAI and high-performance computing (HPC) revenue. The investment firm reiterated buy ratings for Cipher Mining (NASDAQ: CIFR), TeraWulf (NASDAQ: WULF), and Hut 8 (NASDAQ: HUT), favoring companies that are actively diversifying into AI and computing power. Analyst Chris Brendler noted that while pure-play Bitc ...