- According to recent VanEck research, high-performance computing and artificial intelligence (AI) are becoming more popular among Bitcoin (BTC) miners.
The head of VanEck’s digital assets research, Matthew Sigel, claims in a post on the social networking platform X that Bitcoin miners are using technology to profit from strategic arbitrage.
High-powered computing and artificial intelligence (AI/HPC) are replacing bitcoin mining, opening up new revenue streams through calculated arbitrage. By converting 20% of their combined capacity by 2027, we project a $38 billion net present value opportunity. (To put things in perspective, the total market value of the stocks we examined was $19 billion).
VanEck claims that AI projects require a lot of energy, and Bitcoin miners are in a good position to deal with this problem and create a new source of revenue.
The synergy is straightforward: Bitcoin miners have electricity, and AI businesses need it. Because the industry is placing a premium on the expanding AI/HPC data center sector, power access is becoming more and more expensive. Current Bitcoin miners are in a great position to enable AI/HPC right now.
Publicly traded Bitcoin miners presently hold a record proportion of the cryptocurrency’s hashrate, according to VanEck data, and their total market capitalization reached all-time highs in July.
Sigel claims that the MarketVector Digital Asset Equity Index, which tracks the performance of the biggest and most liquid companies in the digital assets space, began significantly underperforming Bitcoin during the August correction in the cryptocurrency markets.
The MarketVector Digital Asset Equity Index, which tracks these stocks, is flat year to date and has underperformed the price of Bitcoin by 3,800 basis points during the recent correction. Even with no change in Bitcoin mining revenues, we think investors are overlooking a narrative that may treble the market cap of the equities at these levels.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
