Bitcoin (BTC) Miner Core Scientific (CORZ) Named a “Top A.I. Pick” by Wall Street Firm Bernstein

Analysts at Wall Street firm Bernstein have named Bitcoin (BTC) miner Core Scientific (CORZ) a “top A.I. pick” days after its stock fell 30%.

Analysts at Wall Street firm Bernstein have named Bitcoin (BTC) miner Core Scientific (CORZ) a “top A.I. pick” following a 30% decline in its stock price.

Core Scientific's shares took a hit on Jan. 27 as the market reacted to the launch of a new application by Chinese artificial intelligence (A.I.) startup DeepSeek.

The app, which was reportedly built for only $6 million using older microchips, has raised questions about the relevance of Bitcoin miners in the data center space.

However, Bernstein sees the sharp decline in Core Scientific's stock price as a buying opportunity, highlighting the stock's deep discount.

According to Bernstein, Core Scientific emerges as the "leader of the pack" among Bitcoin miners pivoting to A.I., with 1.3 gigawatt (GW) of available power supply.

“Bitcoin miners have a 12–18 month finite window to build a hybrid data center business, while the hyperscaler capex remains consistent,” wrote Bernstein analyst Gautam Chhugani in a note to clients.

Bernstein notes that Core Scientific is set to launch its first cluster of data centers in the first half of this year and is actively developing new power sites across the U.S.

Chhugani further points out that Core Scientific's stock is still trading closer to Bitcoin mining valuations than data center valuations, “despite 70% of its capacity allocated to A.I.”

Bernstein maintains a buy-equivalent “outperform” rating on Core Scientific's stock and a price target of $17.

Core Scientific's stock has surged by 263% over the past 12 months and is currently trading at $11.46 per share. The stock is down 27% for the week.