Core

Bitcoin

Brokerage firm Canaccord has initiated coverage of <a href="https://ultramining.com/news/en/bitcoin-mining-giant-core-scientific-prepares-for-post-bankruptcy-comeback/" rel="noopener noreferrer nofollow">Core Scientific</a>, one of the largest Bitcoin <a href="https://ultramining.com/news/en/blockstream-aims-for-bitcoin-profit-with-mining-rig-investment-ahead-of-2024-halving/" rel="noopener noreferrer nofollow">mining companies</a>, with a "buy" rating. This recommendation is based on the company's prospects of becoming a significant player in the field of artificial intelligence (AI) <a href="https://ultramining.com/news/en/bitcoin-mining-reshaping-landscape-amid-global-interest-surge/" rel="noopener noreferrer nofollow">hosting</a>.
According to Canaccord, the 12-year contract that Core Scientific signed with hyperscaler CoreWeave in June is a game-changer for the industry. This contract is considered the first major deal between a mining company and a high-performance computing (HPC) provider for AI hosting.
Canaccord analysts highlight three positive drivers for Core Scientific's stock: ramping revenue in AI hosting, improved cash flow, and potential new site acquisitions. The price target for the stock is $16, with $12 attributed to the CoreWeave contract, $3 to additional AI hosting power supply, and $1 to the Bitcoin mining business.

Brokerage Firm Canaccord Initiates “Buy” Rating for Core Scientific

Ultramining_Eng

2024년 9월 24일에 게재된 다른 기사

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