TechFlow news: JPMorgan stated that the recent weakness in Bitcoin mining stocks ahead of the halving provides investors with an attractive entry point. According to a research report released on Tuesday, the combined market capitalization of 14 U.S.-listed Bitcoin miners tracked by the bank dropped 28%, or about $5.8 billion, from March 31 to April 15, falling to $14.2 billion. All stocks underperformed Bitcoin and declined by at least 20%. Bitcoin has risen 43% year-to-date and 130% over the past six months, as the typical post-halving rally appears to have started early.
JPMorgan expressed particular optimism toward overweight positions in Riot Platforms (RIOT) and Iris Energy (IREN), citing attractive relative valuations. With the Bitcoin halving approaching, increased volatility and trading volume are expected for both Bitcoin and mining equities. Mining profitability was relatively low during the first two weeks of April, as network hash rate growth outpaced gains in Bitcoin's price.
