PANews reported on March 20 that according to The Block, Bernstein analysts lowered their target share prices for Bitcoin miners in 2025 because these miners have significantly underperformed Bitcoin (BTC) this year. Affected companies include IREN, CleanSpark and Riot Platforms. Analysts pointed out that Bitcoin miners' share prices fell by 20-40%, while Bitcoin's decline was only 10%. Among them, IREN's target share price was lowered from US$26 to US$20, CleanSpark's target was lowered from US$30 to US$20, and Riot's target was lowered from US$22 to US$19. At the same time, Bernstein's target share prices for MARA and Core Scientific remained unchanged at US$23 and US$17, respectively.
In addition, Bernstein raised Coinbase's target share price to $310, a 69% increase from the current price. Although Coinbase has also failed to outperform Bitcoin this year, analysts believe that Coinbase's growth momentum lies in its strong position in the U.S. market and the growth of stablecoin revenue, especially regulatory changes promoted by the Trump administration, which may bring it more market share. At the same time, analysts set a target share price of $105 for Robinhood.
