Bernstein: The Golden Age of Bitcoin Mining is Coming
A new report from Bernstein Research suggests that the bitcoin mining industry is shaping up in a very favorable "Goldilocks Scenario," and its analyst Gautam Chhugani says that the golden age of bitcoin miners is approaching. His report outlines several favorable factors for the mining industry:
1. Investors are increasingly embracing the "power-up time" argument of bitcoin miners, viewing them as dynamic power assets and more general-purpose data center facilities.
2. Mining chip technology is constantly innovating in the United States, with Block's latest 3nm mining chip and Core Scientific becoming its main customers.
3. Multiple deals have been announced between bitcoin miners and artificial intelligence data center companies, including partnerships with Core Scientific, Hut 8, and Soluna Holdings.