JPMorgan Chase: Investors' interest in mining companies surges after Core Scientific reaches custody of AI equipment

This site (120btC.coM): According to a report published by JP Morgan on June 24, in the past two weeks, Bitcoin miners have attracted a large number of investor interest, and the reasons for this wave of interest are: It is the miner CoreScientific that previously announced the hosting of graphics processing units (GPUs) for artificial intelligence (AI) cloud service provider CoreWeave. In early June this year, North American Bitcoin mining and hosting service provider CoreScientific announced that it had signed a series of 12-year contracts with AI service provider CoreWeave. JP Morgan analysts said that since CoreScientific announced the above news, the overall market value of the 14 Bitcoinminers they track has increased by 22%, equivalent to approximately US$4 billion. According to JP Morgan analysts Reginald L. Smith and Charles Pearce, the overall market value of Bitcoinminers has increased because the outside world has gradually recognized that their equipment has the potential and can be used as a center for placing AIGPU. They said that the news announced by CoreScientific in June "confirms and accelerates miners' plans to diversify their business into high-efficiency computing (HPC)." Two analysts said that Bitcoinminers may have a good layout and can take advantage of the emerging opportunities in high-performance computing (HPC) computer rooms to support the development of AI and profit from it, because at this time, miners have already Has a lot of necessary infrastructure. The report pointed out: The scramble for power gives companies that currently have cheap power as well as additional interconnection agreements and power authorizations an advantage. We note that the 14 U.S.-listed mining players we track currently manage more than 5 billion watts of power, with an additional 4.5 billion watts available for use. According to the report, in comparison, it may take more than five years to build a data center from scratch. Analysts said that for AI hyperscale service providers, "access to power three to four years in advance could represent a value of $105 million to $140 million per million watts." JP Morgan's report pointed out that power supply powered by 100% renewable energy , Iris Energy (IREN), an operator of Bitcoin mining and AI cloud computing service facilities, is currently well-positioned to benefit from the growing demand for AI data centers from all walks of life. In short, "We believe IREN." It has the best position to benefit from HPC and AI business opportunities because the company has spare power generation capacity and is not obsessed with the Bitcoinmining business.” The report also expresses surprise that Bitcoinminer RiotPlatforms has failed to capture growing demand for AI-related data centers, citing that the company “remains fully committed to Bitcoin despite having ample power capacity.” Mining, not showing much interest in HPC."

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