From Investing.com: 2024-07-10 11:01:03

Bernstein analysts recommend investing in Bitcoin mining companies Iris Energy and Core Scientific due to their shift towards AI data centers. They praise the hybrid business model and recent deals like Core Scientific’s $4.7 billion agreement with Coreweave. Bernstein predicts 20% of mining power will be used for AI by 2027, with both companies leading the way. They also forecast Bitcoin’s price hitting $200,000 by 2025 and $1 million by 2033. Comparing Iris Energy and Core Scientific, Bernstein values them using an EV to EBITDA multiple for fiscal year 2025. They believe these companies are undervalued in the current market.

Read more at Investing.com: Bernstein is bullish on these two less-known Bitcoin mining stocks By Investing.com