JPMorgan Chase said that as hyperscale data centers and artificial intelligence companies are looking for different alternatives to meet their energy needs, this could make Bitcoin (BTC) mining companies with attractive power contracts attractive acquisition targets, according to CoinDesk. Hyperscale data centers are large-scale data centers that specialize in providing large amounts of computing power. M&A in the mining sector is heating up after the Bitcoin halving. On Tuesday, cloud computing company CoreWeave surged after it signed a 200 MW AI deal with Bitcoin miner Core Scientific, and also reportedly made an all-cash offer to acquire the company. Meanwhile, another large Bitcoin miner, Riot Platforms (RIOT), made a hostile takeover offer for peer Bitfarms (BITF) last month. JPMorgan Chase said in the report that the deal with CoreWeave validates and could accelerate the mining sector's involvement in high-performance computing (HPC). The bank estimates that U.S.-listed Bitcoin miners attract up to 5 GW of power and could acquire an additional 2.5 GW, "making them potentially attractive targets." In addition, the report added that some Bitcoin miners are facing financial pressure to exit the market after the recent halving event and may therefore be more willing to accept deals.
