VanEck exec: BTC miners pivoting to AI are sitting on a gold mine

Matthew Sigel, head of crypto research at VanEck, predicted in an interview with CNBC that the stocks of Bitcoin mining companies are poised for further gains as they pivot to supplying power and computing capacity for artificial intelligence (AI) infrastructure. According to The Block, he said that amid surging power demand, Bitcoin miners are effectively sitting on a gold mine. Sigel explained that these companies' stocks are still trading at low prices compared to other data center firms when considering their market capitalization and megawatt capacity.