5 Bitcoin Miners That Are Now Data Center Companies

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1. Core Scientific, Inc. (NASDAQ:CORZ)

Number of Hedge Fund Holders: 81

Based on the research report released on June 24, BTIG analyst Gregory Lewis raised the firm’s price target on Core Scientific, Inc. (NASDAQ:CORZ) from $33 to $38 while keeping a Buy rating. The revised price target offers an additional 46% upside from the current levels.

However, not all analysts share the same level of optimism. On June 16, Freedom Capital initiated coverage on Core Scientific, Inc. (NASDAQ:CORZ) with a Hold rating and assigned a price target of $33. The firm believes that the company has strong long-term potential as a colocation provider, especially given that AI data center capacity is currently limited.  The firm’s neutral stance on the stock reflects its belief that much of its expected future growth in 2027 and even 2028 is already reflected in the stock price.

Similarly, on June 12, Lucid Capital reinitiated its coverage of Core Scientific, Inc. (NASDAQ:CORZ) stock with a Buy rating and set a price target of $40. The firm believes that the company is entering its second phase of growth and is proving that it can operate a high-performance computing platform. Moreover, the company has enough financial strength to support the development of about 1 gigawatt of computing capacity across its current and planned sites, the analyst told investors in a research note.

Core Scientific, Inc. (NASDAQ:CORZ) operates digital Bitcoin mining and high-performance computing infrastructure. The company leverages its own fleet of computers, called miners, to earn Bitcoin for its own account and also provides hosting services for Bitcoin mining and high-performance computing customers at US-based operational data centers.

While we acknowledge the potential of CORZ to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than CORZ and that has 100x upside potential, check out our report about the cheapest AI stock.

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