Riot Platforms (RIOT) aims to build the world's largest publicly listed mining company, with the financial capacity to consolidate the mining space.
Bernstein expects the U.S. bitcoin mining sector to consolidate to about five large players, with larger miners urged to enhance their M&A strategies for continued relevance.
The authors suggest that bitcoin miners possess strategic assets in controlling power and land, essential for scaling up AI computation, hinting at a larger importance beyond just mining.
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