Bitcoin Miners Are Attractive Partners to Build Artificial Intelligence Data Centers: Bernstein

Bitcoin miners are increasingly attractive partners for companies looking to build artificial intelligence (AI) data centers, according to a report by brokerage firm Bernstein. The report highlights the ample power supplies and operating capabilities that bitcoin miners possess, which make them well-suited for supporting AI infrastructure. Bernstein initiated coverage of miners Iris Energy and Core Scientific with outperform ratings, emphasizing the potential of these partnerships. With recent AI deals in the industry and the growing power capacity of bitcoin miners, Bernstein expects around 20% of bitcoin miner’s power capacity to transition to supporting AI operations by the end of 2027. Furthermore, Bernstein remains bullish on bitcoin and projects the cryptocurrency to reach $200,000 by 2025, $500,000 by 2029, and over $1 million by 2033.