JPMorgan highlights a significant uptick in investor interest in Bitcoin (CRYPTO:BTC) mining stocks following Core Scientific's agreement to host 200 MW of GPUs for AI giant Coreweave.
The combined market capitalisation of 14 tracked miners has surged by $4 billion since the announcement, despite Bitcoin's recent price decline and the S&P 500's slight increase.
This rise is attributed to miners exploring new profitable uses for their facilities and the value of reliable power access.
The deal between Core Scientific and Coreweave, valued at $300 million, is expected to generate substantial revenue for Core Scientific over the next 12 years through hosting fees and infrastructure modifications.