比特币矿工看到了转向人工智能和高性能计算 (HPC) 数据中心交易的有希望的转变

Investing.com——Piper Sandler 分析师在周三的一份报告中强调了比特币矿商的一个有希望的转变，强调了巨大的盈利潜力

Bitcoin miners are pivoting towards artificial intelligence (AI) and High-Performance Computing (HPC) data center deals in a bid to shore up their earnings potential, Piper Sandler said in a note to clients on Wednesday.

Piper Sandler 在周三给客户的一份报告中表示，比特币矿商正在转向人工智能（AI）和高性能计算（HPC）数据中心交易，以增强其盈利潜力。

The analysts noted that while Bitcoin miners are still in the "early innings" of this transition, the economics are too compelling to ignore, putting pressure on miners to diversify their operations.

分析师指出，虽然比特币矿商仍处于这一转型的“早期阶段”，但经济因素不容忽视，给矿商带来了多元化运营的压力。

"We believe the economics are significantly more attractive versus the core mining business," the firm said, adding that it expects to see more announcements in 2025.

该公司表示：“我们认为，与核心采矿业务相比，其经济效益明显更具吸引力。”并补充称，预计 2025 年将发布更多公告。

The note highlighted some deals that were announced last year, such as Core Scientific/CoreWeave and TeraWulf/Core42, as early indicators of this trend.

该报告强调了去年宣布的一些交易，例如 Core Scientific/CoreWeave 和 TeraWulf/Core42，作为这一趋势的早期指标。

"We expect more announcements in 2025 with the larger miners (GLXY, RIOT, HUT). One key advantage for Bitcoin miners is their approved access to power, which is highly attractive to the AI companies," Piper said.

“我们预计大型矿商（GLXY、RIOT、HUT）将在 2025 年发布更多公告。比特币矿商的一个关键优势是他们获得批准的电力，这对人工智能公司来说非常有吸引力，”Piper 说。

Bitcoin mining and training AI models are both power-intensive processes. According to Piper, the existing infrastructure of Bitcoin miners offers a faster and more efficient solution for AI companies.

比特币挖矿和训练人工智能模型都是耗电过程。 Piper 表示，比特币矿工现有的基础设施为人工智能公司提供了更快、更高效的解决方案。

"This allows AI companies to quickly scale their operations without having to go through the lengthy process of building and gaining approval for new sites," the analysts explained.

分析师解释说：“这使得人工智能公司能够快速扩大业务规模，而无需经历漫长的建设和获得新站点批准的过程。”

Piper estimates that AI/HPC data center contracts could triple miner EBITDA at certain sites.

Piper 估计，人工智能/高性能计算数据中心合同可能会使某些站点的矿机 EBITDA 增加三倍。

The note also provides an overview of potential sites for companies like RIOT, HUT, GLXY, and MARA, detailing power authorizations and possible economic outcomes of AI/HPC deals.

该说明还概述了 RIOT、HUT、GLXY 和 MARA 等公司的潜在站点，详细介绍了人工智能/高性能计算交易的权力授权和可能的经济成果。

"While not all Bitcoin miners are currently pursuing these opportunities, we believe that those who do will see a material boost in their financial performance," the analysts concluded.

分析师总结道：“虽然目前并非所有比特币矿商都在寻求这些机会，但我们相信那些这样做的人将看到他们的财务业绩得到实质性提升。”