JPMorgan Increases Bitcoin Mining Stock Targets
JPMorgan analysts have revised price targets for four major Bitcoin mining stocks, reflecting the added value of miners’ power assets and BTC holdings. The stocks include Marathon Digital Holdings (MARA), CleanSpark (CLSK), Riot Platforms (RIOT), and Iris Energy (IREN). These revisions were shared in a Dec. 10 report by analysts Reginald Smith and Charles Pearce, with most stocks already trading near their updated targets.
The analysts noted, “Our valuation now incorporates land and power assets and a HODL premium, acknowledging miners’ strategies of holding Bitcoin on their balance sheets, similar to companies like MicroStrategy.”
NYDFS Greenlights Ripple’s RLUSD Stablecoin
Ripple Labs CEO Brad Garlinghouse has announced that the New York Department of Financial Services (NYDFS) has approved Ripple’s RLUSD stablecoin. In a Dec. 10 statement, Garlinghouse shared plans for RLUSD’s exchange listings and partnerships following the regulatory green light.
Launched as a competitor to USDt and USDC, RLUSD could potentially reach a $2 trillion market cap by 2028, according to Ripple executives. Ripple began testing the stablecoin on the XRP Ledger and Ethereum mainnets earlier this year, partnering with exchanges like Bitstamp, Uphold, and MoonPay.
Crypto IPOs Predicted to Surge in 2025
Bitwise analysts have predicted 2025 as the year for crypto IPOs, with at least five major companies expected to go public. These include Kraken, Circle, Anchorage Digital, Chainalysis, and Figure.
Bitwise investment head Matt Hougan highlighted increasing institutional interest and a favorable regulatory climate as key drivers behind the anticipated IPO wave. “We see 2025 as a pivotal year for integrating crypto within traditional financial markets,” Bitwise stated in its recent report.
Riot Platforms Plans $500M Bitcoin Acquisition
Amid surging Bitcoin prices, Riot Platforms has unveiled plans to raise $500 million to expand its Bitcoin holdings. The company aims to achieve this through a private bond issuance for institutional investors.
The bonds, set to mature by 2030, may be converted into Riot common stock based on market terms determined during the offering. Riot plans to use the funds for additional Bitcoin acquisitions and general operations. Currently, Riot holds over 10,000 BTC after a strong production year.
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