Bernstein: 20% of Bitcoin miner power capacity will be shifted to AI in 2027

This site (120btC.coM): Wall Street investment bank Bernstein pointed out in a research report yesterday (10th) that Bitcoin miners are helping to build artificial intelligence (AI) because of their control over power supply and operational capabilities. A powerful partner for data centers.

20% of Bitcoin miner power capacity will shift to AI in 2027

Bernstein pointed out that recent cooperation with the AI ​​field has become a key catalyst for the growth of mining companies, such as:

• Bitcoin mining company Core Scientific and AI Cloud service provider Core Weave signed a 12-year agreement, which is expected to bring billions of dollars in revenue to Core Scientific

• Investment company Coatue Management also injected US$150 million into listed mining company Hut8.

It added that Bitcoin miners currently have access to a large amount of power supply, controlling approximately 6GW (6 billion watts) of power access, and are expected to reach 12GW by 2027. Since miners are at the forefront of high-load power grids, they can help potential partners save time in obtaining energy supplies.

In this regard, analysts led by Gautam Chhugani wrote: Bitcoin data centers are an ideal transformation option due to their high power density racks, cooling infrastructure and general data center operating capabilities. We expect that by the end of 2027, 20% of Bitcoin miner power capacity will be converted to AI.

Finally, Bernstein said that the top five Bitcoin mining companies in the United States are expected to continue to consolidate their scale and grow to about 25% of Bitcoin’s global hash rate, and choose to turn to AI in the medium term.

Bernstein rates Iris Energy and Core Scientific as "outperform"

Out of optimism about Bitcoin mining companies' involvement in the AI ​​field, Bernstein gave mining companies Iris Energy and Core Scientific an "outperform" rating for the first time , and set their target prices at $26 and $17 respectively.

Reiterating that Bitcoin will reach $200,000 next year

On the other hand, Bernstein still expressed optimism about Bitcoin’s future potential and once again reiterated his June prediction that Bitcoin will reach $200,000 in 2025 and 2029. Reaching $500,000, and eventually breaking through $1 million in 2033.

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