According to Wu, Macquarie has given “outperform” ratings to several Bitcoin mining stocks, including MARA, Riot Platforms, Core Scientific, CleanSpark and Cipher Mining, citing the companies’ increasing shift from crypto-specific businesses to artificial intelligence and high-performance computing (HPC) models.
Macquarie believes that several mining companies will benefit greatly in the long term as the shift to high-performance computing accelerates. The analysts also pointed out that while it is still in the early stages of operating AI cloud products in Bitcoin miners' facilities, these companies have the potential to play an important role in the AI computing market.