Bernstein: Texas Bitcoin Miners with Secured Power Capacity Could See Valuation Gains

BitcoinWorld Bernstein: Texas Bitcoin Miners with Secured Power Capacity Could See Valuation Gains Investment firm Bernstein has indicated that Bitcoin miners and AI infrastructure companies operating in Texas with secured power capacity may see their valuations rise, as the state begins auditing grid interconnection projects for data centers.

The report, which was covered by The Block, points to growing political opposition to new data centers and potential limits on new power supply under state regulations.

Why Secured Power Capacity Matters The core of Bernstein’s argument is that the scarcity value of already approved megawatts will increase. As Texas reviews grid interconnection projects, the ability to secure power capacity becomes a critical asset.

Bernstein suggests that this could lead to higher returns per megawatt for companies that have already navigated the regulatory landscape. This development comes amid a broader national conversation about energy consumption by data centers and cryptocurrency mining operations.