A tight US power grid drives bitcoin AI miners and developers are closer to the alignment, according to Wall Street Broker Bernstein.
Increasing demand from AI and digital workloads has made access to the grid of one of the biggest barriers to the growth of the new data center, with interrelated hours of seven years in some regions, the broker said in a report on Friday.
Miners, who gained major renewable power contracts of years ago, now control over 14 Gawinatts (GW) of capacity and offer AI providers a shortcut to the scale, the analysts led by Gautam Chhugani wrote.
Iren (Iren) and Riot Platforms (RIOT) sites can cute the deployment time of up to 75% compared to Greenfield projects, analysts write.
The sector is riding a wider momentum. Bloomberg Microsoft reports that data center deficiencies are expected to continue by 2026 as Cloud and AI demand its infrastructure release. The flow of demand for high computing performance is the optimization that Bitcoin miners can be achieved by expanding AI operations and data center operations.
Since bitcoin facilities are already running high power densities and with advanced cooling systems, they can be retrofitted for high-performance AI workloads faster and cheaper than new buildings, Bernstein said.
The broker called the AI Buildout’s “strategic enabler” miners and named Iren the top pick, with an outperform rating and a target of $ 75 price.
Iren was 5.7% higher in early trading on Friday, around $ 67.50.
Read more: Bitcoin Miners Rally to Pre-Market while sector is close to $ 90b market cap
