Wall Street cuts Bitcoin miner price targets as newly blue Texas threatens data center boom
Source: CoinDesk ·
From the source
Wall Street is cutting bitcoin miner price targets after Democrats' Texas win raised fears of delays to AI data center projects. Wall Street is taking another look at the AI data center boom after Democrats swept Tuesday's midterm elections, including a surprise gubernatorial win in Texas that could hold up billions of dollars in planned projects. For bitcoin BTC $80,550.93 miners that have been moving into AI, the concern is whether they'll be able to get the electricity they need to build new data centers. Those that already have power secured may be in a much better position. Texas is where much of the concern lies. Democrat Gina Hinojosa defeated Republican incumbent Greg Abbott, who had been heavily favored to win. Hinojosa wants to halt new data center approvals until Texas puts rules in place to protect residents from higher electricity bills and water costs. Goldman Sachs estimates that states likely to tighten data center rules account for about 45% of planned U.S. capacity,…