Bernstein Gives Bitcoin Miners IREN, Riot, CleanSpark, Core Scientific 'Outperform' Ratings; IREN Target $100

GateNews
BTC0.26%
IREN-9.27%
RIOT-1.9%
CLSK-5.94%
According to Bernstein analysts on May 19, four Bitcoin mining companies—IREN, Riot Platforms, CleanSpark, and Core Scientific—received 'outperform' ratings as the sector benefits from growing demand for AI data center infrastructure driven by deals from Google and BlackRock worth over $90 billion. Bernstein set IREN's price target at $100, implying approximately 98% upside from current levels. The firm highlighted that miners control over 27GW of planned power capacity, providing a rare advantage in the AI data center expansion, given that acquiring 1GW of new power capacity in the U.S. averages nearly 50 months.
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