‘Follow the gigawatts’: Bernstein sees upside in several bitcoin miners amid $90 billion in AI data center deals

Financial firm Bernstein projects significant upside for several Bitcoin mining companies, seeing them as beneficiaries of the rapidly expanding AI data center market. The analysis suggests that Bitcoin miners, with their established energy infrastructure and operational capabilities, are strategically positioned to capitalize on approximately $90 billion in anticipated AI data center deals. Bernstein has specifically issued "Outperform" ratings for IREN, Riot Platforms, CleanSpark, and Core Scientific, highlighting their potential to leverage their power assets for AI compute needs. This outlook indicates a growing intersection between the energy demands of Bitcoin mining and the burgeoning AI industry.