Bernstein remains Bullish on Core Scientific (Corz), even after the shares tumbled 30% earlier this week when Chinese Artificial Intelligence (AI) Start -upseek challenged the idea that Bitcoin (BTC) miners had value when data center plays.

Slide means the stock is now available with a deep discount, the broker said in a research report on Thursday.

Core Scientific is the “head of the package” of the AI-focused miners, says the report, with 1.3 Gigawatt (GW) of available power supply and a 12-year AI agreement with Coreweave.

“Bitcoin mine workers have a 12-18 month final window to build a hybrid data center business, while hypercaler CAPEX remains consistent,” wrote analysts led by Gautam Chhugani.

Bernstein said Core Scientific is on its way to delivering on his first cluster of data centers in the first half of the year and that the company continues to buy and develop new power pages.

The stock is now closer to Bitcoin Mining Valuation rather than valuations of data center, “despite 70% of its capacity assigned to AI,” according to the report.

Bernstein has a better rating of Core Scientific’s shares with a price target of $ 17.

The stock was 3.8% higher at $ 11.90 in early trade.

Read more: Bitcoin Mining Stocks with AI -Ambition beaten 20% -30% lower as Nvidia’s Plunge Grips Crypto