Bernstein: Bullish on IREN, Riot, CleanSpark AI Pivot

Bernstein stays bullish on Bitcoin mining firms IREN, Riot and CleanSpark riding the wave of AI compute demand, extending a pattern seen across the last twelve months where miners have accelerated their Bitcoin miners AI compute pivot to capture higher-margin revenue streams.

Price action on the 4h chart shows BTC at $77009.99 inside the Bollinger Bands, testing upper resistance at $78722.31 while the RSI(14) sits neutral at 41.84 and the MACD registers a bullish golden cross at -653.81, pointing to a likely retracement toward the EMA50 support at $78499.84 before continuation; this setup supports a constructive BTC price prediction and underscores the broader AI industry impact on miner profitability.