Bernstein remains bullish on Bitcoin mining firms like IREN, Riot, and CleanSpark, who are all riding the wave of AI compute demand.

Aschenbrenner is shorting Nvidia and AMD in favor of bitcoin miners that own the electricity and data centers needed to fuel the next phase of the AI boom.

Bernstein sees bitcoin miners benefiting from $90B in AI deals, with Outperform ratings on IREN, Riot, CleanSpark, and Core Scientific.