TechFlow News, June 4: According to The Block, Bernstein has initiated coverage of Bitcoin mining companies TeraWulf and Cipher Digital, assigning both a “Outperform” rating with price targets of $36 and $32, respectively. Bernstein noted that the two firms—leveraging their secured power resources and site advantages—are pivoting toward AI infrastructure platforms.
Bernstein projects that AI-related revenue from the Bitcoin mining companies it covers will grow from $1.2 billion in 2026 to $10.7 billion in 2030. It highlighted that over the past two years, the industry has leased 6 gigawatts of power capacity to hyperscale cloud service providers and emerging cloud operators through 17 transactions, totaling over $110 billion.
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