VanEck: Bitcoin mining companies are sitting on a "gold mine," and transitioning to AI infrastructure brings investment opportunities

Odaily reported that Matthew Sigel, Head of Digital Asset Research at VanEck, stated in an interview with CNBC that bitcoin mining stocks are among the most attractive investments in the crypto sector. Mining companies are actively redirecting bitcoin computing power to serve the AI market, but compared to other data center peers, their market capitalization per megawatt remains significantly discounted. Sigel pointed out that after decades of insufficient supply, the power grid is now facing multiple demand shocks, and mining companies were early to realize the capital return value available through transformation. Core Scientific recently announced plans to sell most of its bitcoin holdings this year to expand its AI and high-performance computing business. Riot Platforms CEO Jason Les also stated that 2025 will be a watershed year for the company’s strategic transformation, aiming to enhance shareholder value by utilizing nearly 2 gigawatts of power resources for high-demand data center infrastructure. Over the past 12 months, Core Scientific’s stock price has risen 90%, Riot has risen 91%, while MARA Holdings has fallen 35% due to higher mining costs and decreased block output. Sigel also mentioned that VanEck’s NODE ETF has risen over 30% since its launch in May last year, with net assets reaching $56 million.