Bernstein has increased its price targets for Bitcoin miners Core Scientific (CORZ), Riot Platforms (RIOT), and CleanSpark (CLSK), citing their expanding role in the AI infrastructure sector. The firm set new targets at $24 for CORZ, $25 for RIOT, and $24 for CLSK, reflecting their strategic shifts towards supporting AI data centers with their power infrastructure.
The brokerage highlighted the critical role these miners play in the AI value chain, adopting a sum-of-parts valuation approach. Additionally, Bernstein noted an upcoming partnership for Core Scientific in Q4 and emphasized the potential of Riot's 1-gigawatt Corsicana site.
Bernstein Boosts Price Targets for Bitcoin Miners Amid AI Shift
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