AI contracts, not bitcoin, now drive miner valuations, and Cipher and TeraWulf look cheap
The focus of miner valuations has shifted from Bitcoin to AI contracts, suggesting that future AI data center pipelines are undervalued. Analysts from Compass Point note that despite billions in signed leases, the market isn't fully recognizing the potential of these pipelines. Companies like Cipher and TeraWulf are seen as particularly undervalued, indicating a possible buying opportunity. This shift highlights the growing importance of AI infrastructure in the cryptocurrency sector and could signal a significant change in market dynamics.
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