Some crypto miners get initiated as a Buy at D.A. Davidson amid bitcoin rally, China woes

D.A. Davidson analyst Christopher Brendler initiates cryptocurrency miners Core Scientific, Marathon Digital (NASDAQ:MARA), Riot Blockchain (NASDAQ:RIOT) and Hut 8 Mining (NASDAQ:HUT) with a Buy rating as bitcoin (BTC-USD) flirts with $60K level amid China's clampdown on crypto-related operations. He sees a "huge opportunity" for these domestic miners as the U.S. recently overtook China as the world's largest bitcoin miner, accounting for 35.4% of the global hash rate as of end-August. "We're bullish on Bitcoin and the miners represent an attractive way to play this transformational technology as the BTC rally and China shutdown are driving huge near-term margins," Brendler wrote in the report. Tipping off with Riot Blockchain (RIOT +3.7%), "Riots transformational acquisition of Whinstone vaults it into a major competitor with sustainable competitive advantages," and "visibility of its growth trajectory improves." Recall that Riot (RIOT) produced 406 bitcoins in September, an increase of more than four-fold. Marathon Digital (MARA