CIFR, WULF, HUT, CORZ Stocks Get 'Buy' Ratings With UBS Betting On Bitcoin Miners’ AI Pivot

• UBS gave CIFR a $23 price target, pointing to capacity deliveries, pipeline clarity and new lease announcements as catalysts.

• TeraWulf received a $24 target, with UBS estimating recent deals imply roughly $12 million in equity value per megawatt.

• Core Scientific received a $24 target, with UBS expecting AMD-backed capacity to diversify its tenant base and support its data-center strategy.

UBS on Wednesday kicked off coverage of four Bitcoin (BTC) miners pivoting into AI data centers with bullish ratings, betting their power assets and development pipelines can unlock a new growth engine beyond crypto mining.

In a note to investors cited by TheFly, UBS analyst Ryan Gravett said the firm sees growing demand for AI computing infrastructure creating a new opportunity for miners with access to power and large development pipelines.

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UBS initiated coverage of Cipher Mining (CIFR), TeraWulf (WULF), Hut 8 (HUT) and Core Scientific (CORZ) with a 'Buy' rating. However, all four stocks traded lower in morning trade amid broader market weakness.

According to Gravett, data-center infrastructure stocks are positioned for "rapid growth" as AI adoption expands and model developers remain constrained by limited capacity.