JPMorgan Chase (JPM) said in a research note on Wednesday that the power needs of hyperscale enterprises and artificial intelligence (AI) companies could make bitcoin mining companies potential acquisition targets. JPMorgan said CoreWeave's deal with Core Scientific confirms this. Merger and acquisition activity in the mining sector is picking up after the halving, the report said. Shares in Core Scientific (CORZ) soared after cloud computing company CoreWeave signed a 200 trillion watt (MW) artificial intelligence deal with the bitcoin miner and reportedly also offered to buy the company in an all-cash deal. Meanwhile, another large bitcoin miner, Riot Platforms (RIOT), last month made a takeover offer to acquire peer Bitfarms (BITF). The bank estimates that US-listed bitcoin miners consume up to 5 gigawatts of electricity and receive an additional 2.5 gigawatts, "making them potentially attractive targets".