Benchmark: Give Jianan Technology a buy rating for the first time, and its share price benefits from proprietary mining business may have 5 times room to rise."
According to online reports, Benchmark analyst Mark Palmer gave a "buy" rating to Nasdaq-listed bitcoin mining machine manufacturer Jiannan Technology for the first time and set a target price of US$3, nearly five times higher than the current share price of US$0.62. Mark Palmer pointed out that Jiannan Technology's share price fails to reflect its potential to expand its proprietary mining business in the United States. In addition, Jiannan Technology holds approximately 1,408 bitcoins, valued at approximately US$133 million at current prices, accounting for approximately 70% of its market value, which also helps support its valuation.
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