Odaily Planet Daily News: Morgan Stanley analyst Stephen Byrd stated that despite a 44% decline in Bitcoin's price since October, Bitcoin mining companies have been reborn as AI data centers. Stephen Byrd initiated coverage of Terawulf and Cipher Mining on Monday, expecting their stock prices to rise by 159% and 158%, respectively. Stephen Byrd pointed out that the core asset of mining companies is access to electricity, and AI companies are willing to pay a premium for power, with the economic benefits of AI businesses being better than those of cryptocurrency mining. Currently, Terawulf has signed a 510-megawatt power agreement with Google, and Cipher Mining has also reached similar partnerships with companies like Amazon. In addition, Stephen Byrd gave MARA Holdings an underweight rating, believing its AI strategy is not focused enough.
Morgan Stanley Analyst Predicts Over 150% Stock Gains for Two Bitcoin Miners Within a Year
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Summary
Bitcoin news broke as Morgan Stanley analyst Stephen Byrd launched coverage on Terawulf and Cipher Mining, predicting 159% and 158% stock gains in a year. Despite Bitcoin's 44% drop since October, miners are attracting AI firms due to their low-cost electricity access. Terawulf signed a 510-megawatt deal with Google, and Cipher Mining has a similar agreement with Amazon. Byrd also downgraded MARA Holdings for unclear AI strategy. Bitcoin analysis shows miners gaining traction as AI infrastructure.
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