AI & Bitcoin: Power Demand Drives Wall Street Dealmaking

Despite AI concerns, Wall Street dealmaking thrives as bitcoin miners and data center builders seek massive power supplies. Joe Nardini of B. Riley Securities highlights the surging demand from AI and high-performance computing, with bitcoin miners pivoting to hosting AI gear. This shift has led to significant reactions, including Hut Eight shares surging twenty percent on a massive lease. Dealmaking heats up with dollars per megawatt reaching new highs, and buyers ranging from tech hyperscalers to miners. Nardini remains bullish, predicting demand to remain strong through 2026 if rates ease.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.