An interesting signal from Morgan Stanley — they have begun coverage of Bitcoin miners, and here’s what they found. Cipher Mining and TeraWulf received buy recommendations, while Marathon Digital (MARA) is advised to sell. It seems the bank sees potential in some players in the sector, but not all.

This is the first serious look from a major investment bank at the mining sector on a full scale. When such players start coverage, it usually means they see long-term potential in this niche. It’s especially interesting that they singled out Cipher Mining among others — meaning there’s something specific in their analysis about this company.

For traders, this could be a signal to pay attention to these recommendations. Of course, Morgan Stanley is not a guarantee, but when a bank of this level begins actively analyzing the sector, capital movements usually follow. It’s worth monitoring how the market will react to these recommendations in the coming weeks.