According to BlockBeats, on September 15th, as the market reassesses the value of AI computing power and data center assets, the transformation paths of crypto mining companies are beginning to diverge in valuation. JPMorgan Chase upgraded IREN from underweight to overweight on Monday, raising its target price from $46 to $65; at the same time, it downgraded MARA to underweight, lowering its target price from $13 to $11.

JPMorgan believes that IREN has gradually shifted from a Bitcoin mining company to an AI computing power provider, with its advantages stemming from deeper control over land, power access, data center construction, GPU deployment, and computing power sales. IREN's AI cloud business grew 110% quarter-over-quarter in its most recent fiscal quarter, and coupled with its partnership with Nvidia and ongoing contract signings, the bank believes the company has the potential to join the ranks of leading "new cloud" operators.

The assessment of MARA is more cautious. JPMorgan believes that its asset-light approach to data center development, in partnership with Starwood Capital and others, will dilute the incremental value of converting power assets into AI computing power revenue; the available power at existing sites, land acquisition costs, and subsequent expansion capabilities will also limit its valuation reassessment.

According to data from BIT (bit.com), when AI-related stocks were under pressure on Monday, IREN fell by about 3% in pre-market trading, and MARA fell to about $11.66 during the session. The rating change has not yet eliminated market concerns about capital expenditure and execution risks.

According to BlockBeats, on September 15th, crypto journalist Eleanor Terrett reported that crypto industry insiders expect the Democratic Party's counter-proposal based on the Clarity Act to respond to most or all of the targeted amendments made by the Republicans last night.

It remains unclear whether the Republicans will make further concessions before tomorrow's vote or tell the Democrats, "If you want to change things again, vote first."

According to Beating AI News, Meta's personal AI agent product Muse, launched a week ago, is still ranked second on the US App Store's overall free app chart, second only to ChatGPT, and higher than Google Gemini and Claude.

Muse is a personal agent that can work long-term, connecting to services such as email and calendar, browsing the web, breaking down tasks, and continuing to run in the background even after the user closes the app.

According to BlockBeats, on September 15th, Robinhood's blockchain token STANDARD (The Standard Reserve) reached $40 million within two hours of its listing, before subsequently falling back to its current price of $28.91 million, with a trading volume exceeding $40 million. It should be noted that the current circulating supply of STANDARD tokens on the blockchain is 98,323,639.9815.

This project aims to become an "on-chain sovereign central bank," attempting to replace traditional central bank or DAO governance with immutable smart contract code (approximately 4,000 lines) to achieve automated monetary policy. The protocol automatically adjusts its monetary policy based on the net inflow of ETH into the Uniswap v4 official trading pool: when there is a net inflow, the issuance of STANDARD tokens is gradually increased, and the revenue is used to accumulate reserve assets and the protocol's own liquidity; when there is a net outflow, the issuance is reduced, and the revenue is used to buy back and burn tokens.

The official white paper shows that STANDARD, as the ecosystem's sole token, has a total hard cap of 1 billion tokens. Only 100 million were pre-minted at genesis , and all were locked as the protocol's own liquidity in the Uniswap v4 ETH-STANDARD pool: ETH deposited by buyers naturally creates liquidity by keeping the price below the base price. The remaining 900 million are the issuance budget ; once this budget is exhausted, basic issuance will permanently cease, and the entire economy will then operate solely through transaction fees. The transaction fee allocation is as follows: 70% goes into the reserve/buyback pool, 15% is used for permanent liquidity, and 15% is allocated to the team.

In addition, the protocol's current basic issuance starts at 700,000 tokens per day. The protocol will adjust the policy multiplier m (ranging from 0.2x to 1.25x, with 1x at the opening) based on the inflow of ETH into the protocol, thereby adjusting the issuance pace.

BlockBeats reminds users that the protocol is still in its early stages, and the token price is highly volatile; users should exercise caution when investing.