Miners set to benefit from AI infrastructure demand, Bernstein says

Cryptocurrency mining companies are entering a period of structural benefit from the expanding demand for AI infrastructure, according to research and brokerage firm Bernstein. The firm assigned outperform ratings to Iren (IREN), Riot Platforms (RIOT), CleanSpark (CLSK), and Core Scientific (CORZ), while maintaining a market perform rating for MARA Holdings (MARA). Bernstein explained that with global AI-related infrastructure contracts currently valued at $90 billion, miners have plans for a total of 27 GW in power infrastructure. The firm noted that miners hold a structural advantage due to their existing power infrastructure and access to large-scale land.