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Bernstein Report: Bitcoin Miners Are Ideal Partners for Building AI Data Centers
2024-07-10 08:42
Odaily News Bitcoin miners are ideal partners to help build artificial intelligence (AI) data centers due to their available power and operational capabilities, brokerage firm Bernstein said in a research note on Tuesday. Bernstein rated Iris Energy and Core Scientific shares as "outperform." The report noted that Bitcoin miners have secured a large amount of power supply, currently controlling about 6 gigawatts (GW) of power access and will reach 12 GW by 2027. Miners are at the forefront of the "large load power interconnection queue" and can therefore help potential partners save time in obtaining energy supply. Bernstein said it expects the top five U.S. Bitcoin miners to continue to consolidate scale and grow Bitcoin's global computing power to around 25%, with a mid-term choice to turn to artificial intelligence. Bernstein remains bullish on Bitcoin and predicts that the asset will reach $200,000 by 2025, $500,000 by 2029, and more than $1 million by 2033, and said its confidence has increased following the successful launch of a Bitcoin spot ETF in the U.S. in January. (CoinDesk)