TechFlow news, according to Coindesk, brokerage Canaccord has initiated a "Buy" rating on bitcoin mining firm Core Scientific (CORZ) with a price target of $16. Canaccord believes Core Scientific is poised to become a major player in the AI hosting space. The company's 12-year agreement with CoreWeave signed in June is seen as an industry milestone—the first time a bitcoin miner has significantly entered the high-performance computing data center hosting sector. Canaccord highlighted three key catalysts: increased revenue from AI hosting, improved cash flow, and potential site acquisitions. Additionally, after reallocating approximately 500 megawatts of power to AI hosting, Core Scientific still retains 230 megawatts dedicated to bitcoin mining, demonstrating its business diversification potential.
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