VanEck Analysts Highlight Shift of Bitcoin Miners Toward AI and Advanced Computing
New research from VanEck shows that Bitcoin miners are increasingly shifting towards artificial intelligence (AI) and high-performance computing (HPC) to boost profits through strategic arbitrage.
Matthew Sigel, head of digital assets research at VanEck, estimates a $38 billion opportunity by 2027 if miners convert 20% of their capacity to AI/HPC. As energy-intensive AI projects grow, Bitcoin miners are well-positioned to meet the demand. Leveraging their energy resources to support this market.
While Bitcoin miners’ market cap hit an all-time high in July. Recent market corrections have caused the MarketVector Digital Asset Equity Index to underperform. Though Sigel believes the shift to AI/HPC could significantly increase their market value.
Clever Robot News Desk 20th August 2024
