VanEck: Bitcoin Miners Shift to AI Infrastructure, Creating Investment Opportunities

Odaily Planet Daily report: Matthew Sigel, Head of Digital Assets Research at VanEck, told CNBC that bitcoin mining stocks are among the most attractive investments in the crypto space. Mining companies are actively redirecting bitcoin hashing power toward serving the AI market, yet their market capitalization per megawatt remains significantly discounted compared to other data center peers. Sigel noted that after decades of grid supply shortages, the current grid is facing multiple demand shocks, and mining companies were among the first to recognize the capital return potential of such a transition. Core Scientific recently announced plans to sell most of its bitcoin holdings this year to expand its AI and high-performance computing business. Jason Les, CEO of Riot Platforms, also stated that 2025 is a pivotal year for the company’s strategic shift, aiming to enhance shareholder value by allocating nearly 2 gigawatts of power capacity to high-demand data center infrastructure. Over the past 12 months, Core Scientific’s stock rose 90%, Riot’s rose 91%, while MARA Holdings fell 35% during the same period due to higher mining costs and reduced block rewards. Sigel also mentioned that VanEck’s NODE ETF, launched in May last year, has risen over 30% and now holds $56 million in net assets.