Core Scientific (CORZ) Top AI Pick in Bitcoin Miners Despite DeepSeek Dislocation: Bernstein
Core Scientific (CORZ) is highlighted by Bernstein as a leading AI-focused bitcoin miner, even after a recent 30% drop in its stock price. The decline was influenced by the Chinese AI startup DeepSeek, which questioned the value of bitcoin miners as data centers. Bernstein's report indicates that Core Scientific's shares are now available at a significant discount, maintaining an outperform rating and a price target of $17. The company reportedly has the capacity for 1.3 gigawatts of power supply, leveraging 70% of its resources for AI applications, while only a small portion is currently applied to bitcoin mining. Core Scientific is expected to launch its first cluster of data centers in the first half of the year and continues efforts to expand its power sites. The stock, reflecting traits more typical of bitcoin mining valuations rather than conventional data center valuations, recently rose by 3.8% to $11.90 in early trading.
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