D.A. Davidson analyst Christopher Brendler sees a near-term opportunity in cryptocurrency miners following the two-week pullback in the sector after bitcoin (BTC-USD) touched an all-time high earlier in the month. "Although the slightly more risk-off market and BTC pullback may have contributed, we also think the group moved a little too much too fast," the analyst writes in a note to clients. "Fundamentals, however, remain fantastic." Although the global hashrate increased, the rise has moderated recently, he added. In his note, Brendler emphasizes Core Scientific, which agreed to go public through a deal with SPAC Power & Digital Infrastructure Acquisition (XPDI +6.8%). "Core is our favorite 'buy-and-hold' name for several reasons including: the most scale, the best technology, and the strongest organization (superior talent, over 150 employees)," he writes. Core delivered strong Q3 financials, which were included in XPDI's amended Form S-4, with beats across most key metrics, Brendler said.