Some bitcoin miners won't survive when the upcoming halving slashes their revenue in half, but the ones that do survive will thrive, and Rosenblatt Securities says TeraWulf is its top pick in the category. The firm initiated coverage of the bitcoin miner with a buy rating and $4.20 price target Tuesday. Shares were ahead almost 3% in early trading, bringing the past month's gain to 14.2%.
mountain TeraWulf YTD "WULF's cost to produce a bitcoin is industry best which has led to outsized gross margins well above its peers that trade at higher multiples," Bond said. Mining stocks such as TeraWulf offer amplified exposure to the bitcoin price, with enhanced returns during bull cycles but increased volatility in bear markets. TeraWulf's estimated cost to mine a bitcoin this year is about $25,000 ahead of the halving and $37,000 after.
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Source: CNBC - 🏆 12. / 72 Read more »