hyperscalers

2 articles

Bitcoin Miners Emerge as Critical AI Infrastructure Landlords: Bernstein Projects 9x Revenue Surge by 2030

Wall Street research firm Bernstein has initiated coverage on bitcoin miners TeraWulf and Cipher Digital, reframing these companies not merely as cryptocurrency operators but as strategic holders of power infrastructure essential for AI data center expansion. The thesis centers on the scarcity of grid-connected, high-density power capacity that AI hyperscalers urgently need but cannot build fast enough. Bernstein's models suggest AI-related revenue for these miners could grow ninefold by 2030, driven by site conversion, co-location deals, and direct energy leasing.

Jun 4Read →

Markets & Tech

AI Infrastructure Financing Has Entered an Unconstrained Arms Race, Warns GoldenTree's Tananbaum

GoldenTree Asset Management's Steve Tananbaum characterizes the current wave of AI capital deployment not as rational market competition but as a compulsive arms race — one where firms fear the cost of falling behind more than the cost of overinvestment. The dynamic is reshaping credit markets, raising systemic leverage questions, and forcing institutional investors to price a new category of binary risk: winner-takes-most AI infrastructure bets. For decision-makers in finance and technology, the signal is clear — the pace of AI spending is being driven by strategic anxiety as much as by return calculus.

Jun 4Read →