DIRS.INFO The most relevant business & tech news

☆ Buy the dip in these bitcoin mining stocks over the next two months, Bernstein says
▼ + stars: | 2024-01-16 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Bitcoin miners have tumbled since last Thursday, following the launch of spot bitcoin exchange-traded funds . The declines are in part due to the pullback in the bitcoin price, which is down roughly 6% in the same period. In a Monday note to investors, Bernstein also pointed to lower investor appetite for mining stocks as a bitcoin proxy now that ETFs have entered the market. "Just like bitcoin, the next two months offer dip buying opportunity in bitcoin miners," Chhugani said. Bitcoin miners were top performers in 2023, outperforming even bitcoin.

Persons: Bernstein, Gautam Chhugani, Chhugani, CleanSpark Organizations: Marathon, Energy, Cipher, Securities, Exchange, bitcoin Locations: cashflows, U.S, bitcoin

☆ Bitcoin tumbled after a slate of ETFs launched. Here’s why that might dent some crypto miners’ profitability
▼ + stars: | 2024-01-14 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

Investors in bitcoin mining stocks are closely watching the price of the cryptocurrency after the Securities and Exchange Commission's move to allow spot bitcoin ETFs became a sell-the-news event. After the ETFs received regulatory approval last week, the flagship currency briefly touched $49,000. As the week went on, however, bitcoin wiped out its earlier gains and notched a modest weekly loss of 0.01%. "If [the bitcoin price] gets to $45,000 or below only the newest, most efficient miners with the … lowest cost power are going to be able to stay online." "We would view any sell-off [in mining stocks] as a buying opportunity, as the ETF does not directly impact mining economics or change competitive dynamics, and we remain bullish on bitcoin and bitcoin miners in 2024," he wrote.

Persons: bitcoin, Reginald Smith, Chase White, they're, White, Iris Energy, Smith, Iris Organizations: Securities, Exchange, Marathon Digital, JPMorgan, bitcoin's, Compass, Iris, Cipher Mining, Iris Energy

☆ Crypto stocks surge as bitcoin hits fresh 2023 high
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: +2 min

"What we have right now is a risk rally, and bitcoin is also benefiting big time from falling yields. Halving is a process designed to slow the release of bitcoin, and bitcoin prices have typically rallied following halvings. The stock rose nearly 62% in November, even as the crypto exchange reported a decline in third-quarter trading volumes. The ProShares Bitcoin Strategy ETF , which tracks bitcoin futures, rose 7.7% and looked set to touch an over one-year high, while the ProShares Short Bitcoin Strategy ETF that allows traders to bet on a fall in bitcoin futures fell 7.7%. However, the recent rally has sent bitcoin up more than 150% so far in 2023, on course for its best annual performance since 2020.

Persons: Dado Ruvic, Bitcoin, Ipek Ozkardeskaya, Microstrategy, Sruthi Shankar, Amruta, Tasim Zahid Organizations: REUTERS, Swissquote Bank, Thomson Locations: U.S, Bengaluru

☆ Crypto stocks set to start December on high note as bitcoin hits near 19-month high
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +2 min

Shares of bitcoin miners - whose profitability improves as bitcoin climbs - including Riot Platforms (RIOT.O), Marathon Digital (MARA.O) and TeraWulf (WULF.O) rose between 1.7% and 4%. "Higher crypto prices should lead to a boost in transaction volume and transaction revenues for Coinbase as we enter 2024," said CFRA Research analyst Michael Elliott. However, Elliott cautioned the crypto exchange faces both legal challenges and new regulations that are likely to take time to play out and will continue to result in volatility for the stock. The ETF approval bets have helped counter latest concerns after Changpeng Zhao, the founder of the world's largest crypto exchange, stepped down and pleaded guilty to breaking U.S. anti-money laundering laws. Among other gainers were U.S. software developer and bitcoin investor Microstrategy (MSTR.O), up nearly 3.5%, and ProShares Bitcoin Strategy ETF (BITO.P), which added 2.1%.

Persons: Dado Ruvic, Noelle Acheson, J.P.Morgan, Iris, Michael Elliott, Elliott, Changpeng Zhao, Microstrategy, Medha Singh, Sriraj Kalluvila, Krishna Chandra Organizations: REUTERS, Cipher Mining, Iris Energy, Marathon, CFRA, Thomson Locations: bitcoin, Bengaluru

☆ Cramer's Lightning Round: Ford is a 'wait and see situation'
▼ + stars: | 2023-11-21 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Stock Chart Icon Stock chart icon BILL's year-to-date stock performance. Stock Chart Icon Stock chart icon Ford's year-to-date stock performance. Stock Chart Icon Stock chart icon Grab's year-to-date stock performance. Stock Chart Icon Stock chart icon CleanSpark's year-to-date stock performance. Stock Chart Icon Stock chart icon Ready Capital's year-to-date stock performance.

Persons: I'm, what's Organizations: Sports, Academy Sports, Intel

☆ Lightning Round: If you like Bitcoin, just buy Bitcoin, says Jim Cramer
▼ + stars: | 2023-11-21 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLightning Round: If you like Bitcoin, just buy Bitcoin, says Jim Cramer'Mad Money' host Jim Cramer weighs in on stock including: Bill Holdings, Ford Motor, Grab Holdings, Academy Sports and Outdoors, CleanSpark and Intel.

Persons: Jim Cramer, Bill Organizations: Bill Holdings, Ford, Holdings, Academy Sports, Intel

☆ Ether tops $2,000 for the first time since April, bitcoin climbs to an 18-month high
▼ + stars: | 2023-11-09 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

A similar notice for the iShares Bitcoin Trust came on June 8, one week before BlackRock's filing for a bitcoin ETF. The price of ether jumped Thursday, topping the key $2,000 level for the first time since April, after BlackRock took initial steps toward filing for a spot ether ETF. Other crypto assets as well as crypto equities rode the bitcoin price wave Thursday. Meanwhile, shares of bitcoin miners rode the bitcoin wave too. Don't miss these stories from CNBC PRO:Correction: The price of bitcoin topped $37,000 for the first time since May 2022.

Persons: Clara Medalie, Ether, bitcoin, Solana, Darius Tabatabai, Gary Gensler, Microstrategy, CleanSpark, —, Jesse Pound Organizations: Delaware's Division, Corporations, BlackRock, Metrics, Cardano, SEC, CNBC, Marathon, Iris Energy Locations: Coinbase

☆ Top bitcoin miners sold everything they produced last month and cashed out some of their own holdings as the token's price surged
▼ + stars: | 2023-11-07 | by ( Aruni Soni | ) www.businessinsider.com time to read: +2 min

Top bitcoin miners sold more tokens than they produced last month, according to data portal The Miner Mag. Thirteen public miners sold $164 million worth of bitcoin, cashing in on its price rally in October. Miners' bitcoin liquidation-to-production ratio last month was 104%, up from 70% over the summer. AdvertisementAdvertisementTop crypto miners capitalized on the surge in bitcoin prices last month, selling more tokens than they produced. According to a post on crypto data portal The Miner Mag, 13 public bitcoin miners, including Hut 8 and Bit Digital, sold a total of 15,492 tokens worth $164 million.

Persons: —, bitcoin Organizations: Miners, Service Locations: Riding, what's

☆ Bernstein says to buy these crypto stocks to play the expected bitcoin ETF and halving
▼ + stars: | 2023-11-07 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Crypto investors are returning attention to two big catalysts – a bitcoin ETF and the Bitcoin halving – and Bernstein has ways to play each. With that backdrop, Bernstein recently initiated coverage on bitcoin mining stocks, with an outperform rating on both Riot Platforms and CleanSpark and a market perform rating on Marathon Digital . "Right now, you should buy RIOT and CLSK, with clear market catalysts around bitcoin ETF approval in early 2024," Bernstein analyst Gautam Chhugani said in a note Monday. Further down the road, there's the next bitcoin halving, which is expected in the spring of 2024. It happens approximately every four years, when the reward for mining bitcoin is cut in half as mandated in the Bitcoin code to reduce the supply of the cryptocurrency over time.

Persons: Bernstein, Crypto, Gautam Chhugani, It's, Chhugani, it's, CNBC's Michael Bloom Organizations: Marathon

☆ Here are Tuesday's biggest analyst calls: Tesla, SoFi, Pinterest, Roku, Boeing, Apple, Shopify, Chewy and more
▼ + stars: | 2023-10-31 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Baird downgrades ON Semiconductor to neutral from outperform Baird said it sees "pricing pressures" for the semiconductor maker. Morgan Stanley upgrades Chewy to overweight from equal weight Morgan Stanley said in its upgrade of the stock that share sell-off is overdone. " Morgan Stanley upgrades SoFi to equal weight from underweight Morgan Stanley said the risks to SoFi are more than priced in. Morgan Stanley initiates Celsius Holdings as equal weight Morgan Stanley said in its initiation of the stock that it sees a balanced risk/reward. Northcoast upgrades Boeing to buy from neutral Northcoast said in its upgrade of Boeing that it sees a "more promising long term earnings horizon."

Persons: Wells Fargo, Bernstein, Goldman Sachs, it's, Baird, Rowe Price, Tesla, Piper Sandler, Wells, Morgan Stanley, CHWY, Guggenheim, Tourmaline, AutoNation, Jefferies, underperform Jefferies, MoffettNathanson, D.A, Davidson, Northcoast, ABG, Wolfe, Phillips, PSX Organizations: Wells, MARA, Apple, Semiconductor, Citi, TROW, Deutsche Bank, Bank of America, of America, 4Q, Arista Networks, TAM, Lincoln Electric, Seaport, Guggenheim, JPMorgan, Susquehanna, WSM, D.A, Disney, Boeing, Boeing Company, Asbury Automotive Locations: Williams, Sonoma, CELH

☆ Bitcoin mining stocks are rallying, but some are poised for a fall if the cryptocurrency hits this key level
▼ + stars: | 2023-10-26 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +5 min

But the Bitcoin halving is expected in the spring and it will likely reduce companies' revenue. The Bitcoin halving event is highly anticipated event by crypto investors because it historically has set the stage for new bull runs. It takes place every four years when the reward for mining bitcoin – which makes up a significant portion of mining companies' revenue – is cut in half. Marathon famously has the highest energy costs and lowest margins, while Riot has relatively low power costs but shares are expensive. Lower revenue, higher costs Generally, the mining stocks benefit from bitcoin price increases because those translate into higher mining revenue for the company.

Persons: John Todaro, Reginald Smith, Needham, CleanSpark, There's, Smith, bitcoin, Michael Bloom Organizations: JPMorgan, Riot, Miners Locations: Marathon

☆ Here are Wednesday's biggest analyst calls: Nvidia, Boeing, SoFi, Netflix, Apple, Cava, Walmart and more
▼ + stars: | 2023-10-11 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are Wednesday's biggest calls on Wall Street on Wednesday: Goldman Sachs upgrades Shoals to buy from neutral Goldman Sachs said the solar company is very attractive. Morgan Stanley upgrades Cava to overweight from neutral Morgan Stanley said it's gaining confidence in the restaurant chain. JPMorgan upgrades CSX to overweight from neutral JPMorgan said rail concerns have already played out. JPMorgan upgrades Iris Energy to overweight from neutral JPMorgan said the bitcoin mining company is "best-in-class." JPMorgan initiates CleanSpark as overweight JPMorgan said the bitcoin miner offers "relative value."

Persons: Goldman Sachs, Wells, Wells Fargo, TD Cowen, Cowen, Stephens, Raymond James, it's bullish, Morgan Stanley, Cava, it's, UBS downgrades Morgan Stanley, Oppenheimer, Needham, Robinhood, MAUs, Truist, Piper Sandler, JPMorgan, Mizuho, SoFi, SOFI, Leerink, Apple Organizations: Netflix, JPMorgan, CSX, Nvidia, Iris Energy, Energy, UBS, Boeing, Oppenheimer downgrades Texas, Texas, Qs, Logistics, Amazon, Arista Networks, Barclays, Ball Corporation, Apple, Walmart, Deutsche Bank, Cboe Locations: CAVA, OW, U.S, China, ANET, SoFi

☆ Stocks making the biggest moves midday: Ford, AT&T, Yelp, Figs and more
▼ + stars: | 2023-07-17 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Paramount Global — The entertainment company's stock shed 4.4% after the new "Mission: Impossible" movie underperformed expectations at the box office. The Wall Street firm said Progressive's valuation is now compelling after its poor results in June, and said the company has long-term earnings power and growth potential. Yeti — The cooler company's stock fell 5.8% following a downgrade to underweight from sector weight by KeyBanc. The Wall Street firm cited concerns over Yeti's growth and its heavy wholesale channel inventory. State Street — The asset manager slipped more than 3.1% after the firm was downgraded by multiple Wall Street firms, including JPMorgan.

Persons: Rivian, Tesla —, Knight, Yelp, Goldman Sachs, Raymond James, Cantor, —, Samantha Subin, Alex Harring, Tanaya Macheel, Brian Evans Organizations: Ford —, Ford, Tesla — Elon, Constellation Software, Intercontinental Exchange, Citi, BridgeBio Pharma —, Activision, Microsoft, Sony, PlayStation, Activision Blizzard, Paramount Global, Variety, Apellis Pharmaceuticals, American, JPMorgan, Wall, State Street's, Iris Energy

April 18 (Reuters) - Beleaguered bitcoin miners are finally feeling the spring sunshine after a cold, hard crypto winter. At the current bitcoin price, these companies' cash flows have substantially improved and most of them should have no problem paying their obligations," said Jaran Mellerud, analyst at bitcoin mining services company Luxor. Bitcoin mining is the process by which a network of computers validates a block of transactions on the blockchain. "The bitcoin price increase has bought these companies time, but it would be detrimental for these companies if it were to fall back down to $20,000," he said. A rapid rise in power prices or a fast fall in bitcoin could usher in a new cold spell.

Search resuls for: "Cleanspark"

14 mentions found