Bitcoin Miners Transform into AI Industry’s Power Providers
- Bernstein has given “Outperform” ratings to TeraWulf and Cipher Digital.
- Bitcoin miners have signed deals worth over $110 billion in the last two years, providing about 6 GW of power to AI hyperscalers.
- Projected growth in AI revenue across Bernstein’s coverage is from $1.2 billion in this year to $10.7 billion by the end of the decade.
- TeraWulf aims for $1.7 billion in AI revenue with EBITDA margins nearing 84% by the decade’s end.
- Cipher Digital is expected to achieve $1.2 billion in AI revenue with margins close to 93%.
The transformation of Bitcoin miners into essential players within the artificial intelligence sector highlights their strategic role as providers of large-scale power solutions, crucial for AI operations.
Miners’ ability to offer ready-to-use power facilities positions them as key facilitators for expanding AI infrastructure, underscoring their growing influence beyond cryptocurrency mining (Source)
