Morgan Stanley analyst Stephen Byrd expects Terawulf and Cipher Mining stocks to surge by approximately 159% and 158% respectively within a year. The analyst highlights that Bitcoin mining firms are diversifying by supplying electricity to AI data centers, which offer better business economics than traditional crypto mining. Terawulf has secured a 510MW power deal with Google, while Cipher Mining partners with Amazon, but MARA Holdings receives a negative outlook due to lack of AI focus.

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