Shares of Bitcoin miners that are also involved in artificial intelligence (AI) have outperformed those focused solely on cryptocurrency mining, according to analysts from Bernstein, as reported by The Block.

AI-focused miners like Core Scientific, IREN, and Terawulf have achieved greater success due to investor confidence in diversified business models, more predictable sources of revenue, and increased flexibility.

“AI-focused miners may experience slower hash rate growth compared to those focused exclusively on Bitcoin. However, these companies are expanding their data center infrastructure, which opens up additional opportunities in the rapidly growing AI sector,” analysts noted.

The growth of AI companies in the mining sector is opening up new possibilities, with their investments in infrastructure poised to capitalize on the expanding AI market.