Texas Bitcoin Miners With Secured Power Capacity May See Valuation Gains

Bernstein highlights rising scarcity value of approved megawatts in Texas as grid audits tighten, favoring miners with existing power agreements.

Woofun AI notes that Bernstein identifies potential valuation increases for Bitcoin miners and AI infrastructure firms in Texas holding secured power capacity. As the state audits grid interconnection projects amid political opposition to new data centers, the scarcity value of already approved megawatts is expected to rise. Bernstein maintains an outperform rating on several well-positioned companies, while assigning MARA Holdings a market-perform rating, emphasizing that established power agreements provide a competitive shield against regulatory scrutiny.