Morgan Stanley Analyst: Two Mining Companies Expected to Surge Over 150% Within a Year

Odaily News Morgan Stanley analyst Stephen Byrd stated that despite Bitcoin's price falling 44% since October, Bitcoin mining companies have found new life as AI data centers. Stephen Byrd initiated coverage on Terawulf and Cipher Mining on Monday, forecasting their stock prices to rise by 159% and 158%, respectively. Stephen Byrd pointed out that the core asset of mining companies is access to electricity, and AI companies are willing to pay a premium for this access, with AI business economics being superior to cryptocurrency mining. Currently, Terawulf has signed a 510-megawatt power agreement with Google, and Cipher Mining has reached similar collaborations with companies like Amazon. Additionally, Stephen Byrd assigned an underweight rating to MARA Holdings, citing its lack of focus in AI strategy.