According to Foresight News, brokerage firm Bernstein said in a research report on Tuesday that Bitcoin mining companies are attractive partners to help build artificial intelligence (AI) data centers due to their available power and operational capabilities. Bernstein gave miner Iris Energy (IREN) an outperform rating and a $26 price target for the first time, and also gave Core Scientific an outperform rating for the first time with a price target of $17.

Bernstein said it expects the five largest U.S. bitcoin miners to continue to consolidate and grow bitcoin's global hash rate to around 25%, with a mid-term choice to turn to artificial intelligence. Bernstein remains bullish on bitcoin and predicts the asset will reach $200,000 by 2025, $500,000 by 2029, and more than $1 million by 2033.