VanEck Analyst: Bitcoin Miners Turning to AI Create Huge Arbitrage Play

VanEck’s head of digital assets research, Matthew Sigel, says Bitcoin mining firms could unlock major profits by repurposing their cheap, long-term electricity contracts for artificial intelligence (AI) and high-performance computing.

With miners trading at just 5–6x EBITDA compared to AI firms at 20x, Sigel calls this a clear arbitrage opportunity that companies are already exploiting despite higher capital costs.He highlights Google’s 14% stake in miner TeraWulf as proof the shift is real, noting that stocks most aggressive in pivoting to AI have outperformed this year.

Sigel believes the trend is still in its early stages, with miners integrating AI power strategies likely to remain strong market performers in the months ahead.

Clever Robot News Desk 12^th September 2025