AI-focused Bitcoin miners are outperforming rivals amid 'significant upside' potential for the industry, Bernstein says.

AI-focused Bitcoin miners such as Core Scientific, IREN and Terawulf are outperforming their “pure play” rivals in terms of stock price due to stronger conviction in the data center thesis amid choppy bitcoin price action, according to analysts at research and brokerage firm Bernstein.
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 These AI-driven miners are expanding their data center infrastructure, which positions them well to capitalize on the growing demand in both the Bitcoin and AI sectors. While their hash rate growth may be slower compared to traditional miners, the strategic focus on AI integration is seen as a key factor for future growth and profitability in the competitive landscape of cryptocurrency mining.