Bernstein Backs CleanSpark Over MARA Amid AI Pivot

Financial analysts at Bernstein recently updated their outlook on major Bitcoin miners. They gave CleanSpark an Outperform rating with a price target of 24 dollars. This positive stance comes as the company continues to make significant progress in leasing its hardware for artificial intelligence applications.

In contrast, the firm maintained a 17 dollar price target for MARA. While MARA is also looking to expand its business model, the market is currently waiting for the company to secure its first commercial contract for AI services. This distinction in progress has shifted investor attention toward companies already showing results.

These ratings highlight how miners are trying to diversify their revenue streams beyond just mining Bitcoin. As the demand for computing power grows, investors will be watching to see how quickly these firms can transition into AI service providers. Whether MARA can finalize its first deal soon remains the primary question for shareholders.