‘The power landlords of AI’: Bernstein initiates coverage on bitcoin miners TeraWulf and Cipher Digital, sees ninefold AI revenue by 2030
The Block·
60-second summary
Bernstein initiates coverage on bitcoin miners TeraWulf and Cipher Digital, assigning Outperform ratings with price targets of $36 and $32. The firm projects AI revenue to grow ninefold by 2030, driven by increasing adoption of artificial intelligence in various industries. This growth bodes well for the companies' future prospects and potentially boosts their stock prices.
Bernstein initiates TeraWulf and Cipher Digital at Outperform with $36 and $32 price targets, projecting AI revenue to grow ninefold by 2030.