Bernstein Predicts Bright Future for Bitcoin Miners: Iris Energy and Core Scientific Set to Shine

Bernstein Predicts Bright Future for Bitcoin Miners: Iris Energy and Core Scientific Set to Shine

Bitcoin Miners Poised for Success Bernstein, a respected Wall Street investment firm, has recently initiated coverage of bitcoin miners, expressing optimism about their future prospects. They have assigned an "outperform" rating to stocks such as Iris Energy (NASDAQ: IREN) and Core Scientific (NASDAQ: CORZ). Analysts at Bernstein believe that bitcoin miners with reliable power sources and sustainable operations are well-positioned to transition into becoming AI data center operators. They project that the top five U.S. bitcoin miners will control approximately 25% of the total Bitcoin network hashrate in the years to come, with the potential to convert into data centers in the medium term. Bitcoin's Long-Term Bullish Outlook Bernstein maintains a long-term bullish outlook for Bitcoin (BTC), forecasting significant price appreciation in the coming years. According to their predictions, BTC is expected to reach $200,000 by 2025, $500,000 by 2029, and an impressive $1 million by 2033. Conclusion Bernstein's positive outlook on bitcoin miners and their long-term belief in Bitcoin's growth prospects suggest that the future is bright for companies like Iris Energy and Core Scientific. As the adoption of Bitcoin and other cryptocurrencies continues, the demand for reliable and efficient mining operations is likely to increase, benefitting these well-positioned miners.