Morgan Stanley analysts: Two mining companies are expected to rise by more than 150% within a year

According to Odaily, Morgan Stanley analyst Stephen Byrd stated that although the price of bitcoin has dropped 44% since October, bitcoin mining companies have found new life as AI data centers. On Monday, Stephen Byrd initiated coverage of Terawulf and Cipher Mining, predicting that the share prices of the two companies will rise by 159% and 158%, respectively. Stephen Byrd pointed out that the core asset of mining companies is access to electricity, and AI companies are willing to pay a premium for electricity, with the economic benefits of AI business surpassing those of cryptocurrency mining. Currently, Terawulf has signed a 510-megawatt power agreement with Google, and Cipher Mining has reached similar collaborations with companies such as Amazon. In addition, Stephen Byrd gave MARA Holdings an underweight rating, believing that its AI strategy lacks focus.