Bitcoin miners ‘sitting on a gold mine’ amid surging power demand: VanEck

Matthew Sigel, VanEck’s Head of Digital Asset Research, believes Bitcoin mining stocks are a compelling investment because miners are aggressively diversifying their capacity to serve the artificial intelligence (AI) market's surging power needs. The energy-intensive data centers built for mining are ideal for AI infrastructure, allowing miners to earn significant capital by pivoting from token production. Sigel noted that miners trade at a large discount compared to other data center peers on a market cap-to-megawatt basis. Companies like Core Scientific are liquidating Bitcoin holdings to fund expansion into AI and high-performance computing. This shift capitalizes on the grid's undersupply, where AI has created new demand shocks. Sigel also highlighted the success of VanEck's NODE ETF, which focuses on the intersection of crypto and real-world cash flows, noting that Bitcoin miner equities, like Core Scientific and Riot Platforms, have seen significant stock appreciation over the past year.

(Source：The Block)