Power demand from hyperscalers and AI firms may make bitcoin mining companies potential takeover targets, the bank said.
JPMorgan said CoreWeave's deal with Core Scientific validates the mining sector's pivot to HPC.
The deal with CoreWeave validates and may accelerate the mining sector's involvement in high-performance computing (HPC), JPMorgan said in the report.
JPMorgan said this deal could raise the 'valuation floor for sub-scale mining operators, as a new class of buyers (Hyperscalers) has emerged.'
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