Cryptocurrencies
Bitcoin Mining Stocks Stumble as Optimism Wanes After Record Run
- B. Riley analyst cuts price targets on Marathon, Riot, others
- Cantor Fitzgerald initiates coverage with preference for Riot
This article is for subscribers only.
Bitcoin mining stocks are taking a beating as the recent slide in the price of the world’s largest digital asset has analysts reconsidering their outlooks following a record-breaking year.
B. Riley Securities Inc. cut price targets on Marathon Digital Holdings Inc., Riot Blockchain Inc., Greenidge Generation Holdings Inc. and Stronghold Digital Mining Inc. The firm also reduced estimated earnings multiples. Marathon fell as much as 9.8%, Riot dropped as much as 7.6% and Greenidge was down as much as 5.6%. Stronghold edged higher.