Bitcoin miners are pivoting toward AI infrastructure, with analysts noting that AI contracts have replaced bitcoin as the primary driver of market valuations. Despite a 16% decline in the sector's index due to liquidity concerns and SEC filings, companies like Cipher and TeraWulf are seen as undervalued relative to their data center pipelines. While Core Scientific achieved an outlier return of 75% on AI deals, stabilized returns on assets for other major miners are estimated between 4% and 5%.
