Bitcoin miners’ AI pivot pays off, but mining could revive with one twist
Miners with AI and high-performance computing contracts have commanded higher valuations as declining bitcoin prices and hashprice squeeze pure-play operators.
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Summary
- Bitcoin miners that pivoted their power infrastructure to AI have secured richer stock-market valuations and stronger revenue prospects, while pure-play operators remain squeezed by weak earning capacity.
- AI and HPC-focused miners trade at 12.3 times enterprise value, compared with 5.9 times for pure-play bitcoin miners.
- Bitcoin returning to its $126,000 all-time high could lift the hashprice to around $59 per PH/s and revive mining economics, according to CoinShares.
