Bitcoin miners are becoming pivotal in the AI infrastructure landscape, with over 27 gigawatts of planned power capacity in the U.S., according to a Bernstein report. The sector has secured AI-related contracts exceeding $90 billion, highlighting its strategic role in providing essential power infrastructure. This development follows a new AI cloud venture by Google and Blackstone, which could indirectly benefit miners due to their control over critical power resources.
The report notes that securing a gigawatt of grid-connected power can take over four years in the U.S., prompting tech firms to partner with digital asset miners. These miners are reconfiguring facilities to offer tech services, with significant deals like IREN's $3.4 billion agreement with Nvidia and Riot Platforms' contract with AMD. Bernstein rates IREN, Riot Platforms, CleanSpark, and Core Scientific as outperformers, while MARA Holdings receives a market-perform rating.
Bitcoin Miners Emerge as Key Players in AI Infrastructure, Bernstein Report Shows
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