Bitcoin Miners ‘Sitting on a Gold Mine’ as AI Boom Drives New Demand: VanEck - Crypto Economy

TL;DR

• Bitcoin mining companies may be entering a new growth phase as artificial intelligence demand rises worldwide.
• VanEck researchers say miners already operate energy-intensive facilities that can be redirected toward AI computing, allowing them to monetize existing infrastructure.
• The firm also notes that many mining companies trade at lower valuations than traditional data-center operators despite owning comparable power capacity, suggesting the sector’s infrastructure could be undervalued by public markets.

Bitcoin mining companies could gain a new role in the fast-growing artificial intelligence industry, according to research from VanEck. The firm’s head of digital asset research, Matthew Sigel, said miners already control large electricity supplies and specialized facilities that can be repurposed for AI computing workloads.

Speaking on Squawk Box on CNBC, Sigel explained that several mining companies have begun redirecting part of their infrastructure toward high-performance computing used for artificial intelligence. Both sectors rely on high electricity consumption, cooling systems, and large-scale data facilities, which makes the transition technically viable for many operators.

The overlap between mining and AI infrastructure is beginning to reshape how analysts evaluate the Bitcoin mining sector.

Bitcoin Miners Expand Into AI Infrastructure

Sigel noted that multiple mining companies are allocating resources to AI-related computing services. Many of these firms already operate large power contracts and purpose-built facilities, allowing them to host AI workloads without building entirely new infrastructure.

For example, MARA Holdings recently outlined plans to convert some mining locations into hyperscale data-center campuses capable of supporting AI computing clusters. Meanwhile, Core Scientific secured financing that could reach $1 billion to accelerate its expansion into artificial intelligence infrastructure.

Demand for AI data centers has grown rapidly as technology companies compete to train advanced machine learning models. In this environment, facilities with reliable power supply and cooling capacity have become strategic assets.

Sigel added that publicly traded mining firms still trade at lower valuations than traditional data-center operators when measured by market capitalization relative to megawatt capacity.


Energy Flexibility Strengthens Bitcoin Mining Economics

Beyond artificial intelligence demand, Bitcoin miners also offer operational flexibility to electricity grids. Unlike traditional industrial facilities, mining operations can reduce or restart power consumption within minutes.

This capability has already been demonstrated in regions such as Texas, where several mining companies participate in grid response programs managed by the Electric Reliability Council of Texas. During periods of high demand, miners temporarily reduce electricity use to help stabilize the grid.

Sigel said this flexibility could become increasingly valuable as electricity demand rises from AI computing, industrial reshoring, and digital infrastructure expansion.

He also noted that Bitcoin has traded within a broad range between $59,000 and $72,000 in recent weeks. At the same time, selling pressure from long-term holders has slowed, which has helped stabilize market activity.