CleanSpark price target raised to $15 from $14 at JPMorgan

JPMorgan raised the firm’s price target on CleanSpark to $15 from $14 and keeps a Neutral rating on the shares. The bitcoin halving will occur on April 16 and could have sweeping implications for the bitcoin mining industry, the analyst tells investors in a research note. The firm believes the halving will cut industry revenues in half, triggering a wave of consolidation and business closures, while rationalizing the network hashrate and industry capex, which is ultimately good for the remaining operators.