Odaily Planet Daily News JPMorgan Chase (JPM) said in a research note on Wednesday that the power needs of hyperscalers and artificial intelligence (AI) companies could make Bitcoin mining companies potential acquisition targets. JPMorgan said the CoreWeave-Core Scientific deal confirms this. The report said that after the halving, mergers and acquisitions in the mining sector are heating up. Core Scientific (CORZ) shares soared after cloud computing company CoreWeave signed a 200 megawatt (MW) AI deal with the Bitcoin miner and reportedly offered to acquire the company in an all-cash deal. Meanwhile, another large Bitcoin miner, Riot Platforms (RIOT), made an offer to acquire peer Bitfarms (BITF) last month. The bank estimates that U.S.-listed Bitcoin miners consume up to 5 GW of electricity and have access to an additional 2.5 GW, "making them potentially attractive targets."
