Bernstein: Bitcoin miners are attractive partners for building AI data centers

2024-07-10 16:32:46

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ChainCatcher news, according to CoinDesk, broker Bernstein stated in a research report on Tuesday that Bitcoin miners are attractive partners for establishing artificial intelligence (AI) data centers because they have available power and operational capabilities.
The report noted that recent AI deals, including Core Scientific's (CORZ) 12-year agreement with CoreWeave and Coatue Management's $150 million investment in Hut 8 (HUT), have become key catalysts for the industry.

Additionally, Bernstein initiated coverage on mining company Iris Energy (IREN) with an "Outperform" rating and a target price of $26. The brokerage also started coverage on Core Scientific with an "Outperform" rating and a target price of $17. Iris Energy was reported at $13.40 in early trading on Tuesday, while Core Scientific was at $9.79.

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