Shifting from bitcoin mining to AI computing power, three major mining companies face target price cuts from Jefferies: signing contracts is easy, but delivery is key

According to Golden Ten Data, as part of a broader revaluation of artificial intelligence (AI) data center companies, investment bank Jefferies has lowered the target prices for TeraWulf (WULF.US), Hut 8 (HUT.US), and Cipher Digital (CIFR.US), which have transitioned from Bitcoin mining firms to AI infrastructure companies, but has maintained a "Buy" rating on all three. The institution stated that it has adjusted its models for AI infrastructure companies to reflect the impact of the US midterm election results and changes in tenant orders.