Bitcoin produced generational returns for investors who got into the digital asset a decade ago, and it looks like Bitcoin miners are next.
The infrastructure Bitcoin mining companies use to mine Bitcoin is uniquely positioned to capitalize on artificial intelligence.
Investors Are Starting To View Bitcoin Miners As AI Companies
Hive Digital Technologies Executive Chairman and Co-founder Frank Holmes told BeInCrypto that it takes three years to build a data center from scratch. That’s because you have to factor in details like permitting, logistics, and building the data center.
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However, the path to converting a Bitcoin mining data center into an AI data center takes less time.
“If you already have the infrastructure built from Bitcoin mining, it’s nine months to improve the data center,” Holmes said.
Hive has a market cap of more than $600 million. But the company doesn’t view itself just as a Bitcoin miner. The company is a vertically integrated, renewable-powered AI infrastructure company, and Wall Street analysts agree.
Analysts have aggressive price targets of $6 to $12. Hive stock currently trades at around $3 per share, which implies more than 300% upside from current levels.
Some institutional investors are starting to notice as well.
Citadel Securities recently disclosed a 5.4
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Author: Marc Guberti
