Texas Bitcoin Miners with Secured Power Capacity Poised for Valuation Gains

Investment firm Bernstein believes that Bitcoin miners and AI infrastructure companies in Texas with secured power capacity may see their valuations rise due to tightened regulations on grid connections.

The state's audit of grid interconnection projects has led to growing opposition to new data centers, potentially limiting the growth of power-intensive facilities.

As a result, Bernstein expects the scarcity value of already approved megawatts to increase, leading to higher returns for companies that have secured their energy supply.

The investment firm has maintained an outperform rating on several key players, including Cipher Mining, CleanSpark, and Core Scientific, citing their ability to secure power capacity as a critical asset.