The broker anticipates a 7% decline in hashrate following the halving due to shutdowns, compared to the previously expected 15%, according to the report.

Bernstein has revised its year-end bitcoin (BTC) price projection to $90K from $80K and updated estimates for mining stocks covered in its research report released on Thursday.

Analysts Gautam Chhugani and Mahika Sapra wrote, "With a new bitcoin bull cycle, robust ETF inflows, aggressive expansion of miner capacity, and record-high miner revenues, we still see bitcoin miners as attractive investments for equity investors seeking exposure to the crypto market."

They stated, "We are assuming a 7% reduction in hashrate following the halving due to shutdowns, compared to the previously anticipated 15% reduction." Hashrate refers to the total computational power used for mining and processing transactions on a proof-of-work blockchain. The quadrennial reward halving occurs when mining rewards are halved. The next halving is expected in mid-April.

Bernstein raised its price target for CleanSpark (CLSK), rated as outperform, to $30 from $14.20. It lowered its price target for Riot Blockchain (RIOT), also rated as outperform, to $22 from $22.50, and increased its price target for Marathon Digital (market-perform) to $23 from $14.30.

CleanSpark closed at $20.25 on Wednesday, Riot at $12.40, and Marathon at $22.43.

According to the report, Riot and CleanSpark are poised to lead the sector as the "largest miners with the greatest self-mining capacity." #BTC #HotTrends #Bitcoin(BTC) #BitcoinHalvingMagic #BTC🔥🔥🔥🔥