According to a research report by broker Bernstein, Core Scientific, a bitcoin miner, is well-positioned to deliver up to 300 megawatts of scale within three years in the data center market for artificial intelligence (AI). The company has readily available sites and power as well as a strong talent pool. Legacy data centers can provide the same scale but take longer to achieve it. The report also mentioned concerns about counterparty risk and debt-fueled overbuild. Despite this, Bernstein has an outperform rating on Core Scientific with a price target of $17. The company's partnership with CoreWeave is seen as evidence of a growing trend of AI firms partnering with bitcoin miners.
- Content Editor ( coindesk.com )
- 2024-09-10
Core Scientific Is Uniquely Placed to Deliver AI Data Center Scale in the Near Term: Bernstein