- Bitcoin miners see stock gains as analysts highlight their role in the AI and high-performance computing sector.
- Miners’ pre-secured access to high-density power is seen as an advantage for supplying energy-intensive data centers.
- Iren, TeraWulf, CleanSpark, and Marathon Digital stocks all rose in pre-market trading.
- Analysts say miners have secured over 14 gigawatts of grid power, much sourced from surplus renewable energy areas.
- Miners may shorten AI data center construction timelines and are expected to be key partners for cloud infrastructure providers.
Several U.S.-listed bitcoin miners saw their stock prices increase in pre-market trading Friday after analysts said these companies stand to benefit from growing demand in Artificial Intelligence and high-performance computing. Miner access to pre-secured, high-density power has been identified as a major advantage as the AI sector faces energy and infrastructure shortages.
According to a note referenced by Bernstein, Iren shares jumped as much as 6%, after analysts gave it an ‘Outperform’ rating and a $75 price target. Other mining companies including TeraWulf, CleanSpark, and Marathon Digital also recorded gains, with TeraWulf rising 8.5%, CleanSpark up over 6%, and Marathon Digital up 2%.
The report indicates that bitcoin miners have already secured more than 14 gigawatts of grid-connected power, much of it from areas with excess renewable energy. This resource gives miners a strong position to address the needs of AI data centers, which require large amounts of electricity to manage advanced computing. “Bitcoin miners began securing power infrastructure early (2019–21),” analysts at Bernstein wrote, emphasizing their ability to offer scalable, ready-to-use power capacity.
Bernstein’s note also pointed to grid access challenges, with tech companies such as Microsoft expected to face data center shortages that could last into 2026, according to a Bloomberg report. Miners’ early investments could reduce AI data center build timelines by as much as 75% compared to new (greenfield) developers, who often face long wait times to connect to utility grids.
Analysts argue that miners’ infrastructure—initially designed for compute-heavy bitcoin mining—positions them as strategic partners for cloud and AI providers. They highlighted how this access to grid capacity is now a scarce and valuable asset in the U.S. energy market.
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