tl;dr
Research firm Bernstein has suggested that Bitcoin mining firms could shift into building AI data centers, projecting that up to a third of their future value could come from the AI sector. Bernstein initiated coverage on two Bitcoin miners, Iris Energy and Core Scientific, noting their potential in...
Bitcoin Mining Firms Could Pivot into AI Data Centers
Bernstein has suggested that Bitcoin mining firms may shift into building AI data centers, with up to a third of their future value potentially derived from the AI vertical. Bernstein initiated coverage on Iris Energy and Core Scientific, highlighting their potential in the Bitcoin/AI data center space and emphasizing strategic advantages in the AI data center sector.
Bitcoin miners are emerging as attractive partners for AI Data Centers due to their "ready power interconnect" and operating capabilities. Bernstein projects that about 20% of Bitcoin miners’ power capacity could pivot to AI by 2027, driven by hybrid AI/Bitcoin DC players and smaller miners.
Bitcoin ETFs and the Potential for Growth
Bernstein remains confident in Bitcoin's future, bolstered by the success of Bitcoin ETFs, which manage around $55 billion in assets. The report indicates that Bitcoin ETFs have "headroom to grow," particularly with potential imminent institutional inflows from private wealth platforms, RIAs, and wirehouses.
Bernstein's Bullish Bitcoin Price Prediction
Bernstein reiterates its bullish Bitcoin price prediction: $200,000 by 2025, $500,000 by 2029, and exceeding $1 million by 2033. The report emphasizes Bitcoin's unique demand-supply dynamics and its four-year price cycle, attributing significant price increases following the May 2020 halving to institutional demand from entities like Grayscale, MicroStrategy, and Tesla.
Source: Decrypt Media
More about Iris Energy Ltd
Stock Market Analysis: Iris Energy Ltd Stock Market Analysis: Iris Energy Ltd
Sector: TECHNOLOGY
Industry: SERVICES-COMPUTER PROCESSING & DATA PREPARATION
Market Cap: 2.395 billion
Dividend Yield: -0.06
P/E Ratio: 2.179
Earnings Per Share (EPS): -0.0532
Volume: 165,535,000
Price: $15.58
52-Week High: $0
52-Week Low: $3.798
More about Core Scientific Inc. Common Stock
Core Scientific Inc. Common Stock Summary
Core Scientific, Inc. provides blockchain and artificial intelligence (AI) infrastructure services in the United States. The company is headquartered in Austin, Texas.
Sector: TECHNOLOGY
Industry: SERVICES-COMPUTER PROCESSING & DATA PREPARATION
Market Cap: 542,047,000
Dividend Yield: None
Beta: None
EPS: 1.323
P/E Ratio: -0.491
Volume: 502,400,000
Stock Price: 6.75
52-Week High: 0
52-Week Low: 0
RSI (14): 0.171
More about Dakota Gold Corp.
Stock Market Analysis: Dakota Gold Corp. Dakota Gold Corp. Stock Analysis
Industry: ENERGY & TRANSPORTATION
Sector: METAL MINING
Market Cap: $208,687,000
Support Level: $5.75
Resistance Level: $0.44
Bullish Trend: No
Bearish Trend: No
Breakout: No