VanEck: Bitcoin mining companies are sitting on a "gold mine," and the transformation to AI infrastructure presents investment opportunities.

In an interview with CNBC, Matthew Sigel, Head of Digital Asset Research at VanEck, stated that Bitcoin mining stocks are among the most attractive investments in the crypto space. Miners are actively shifting their Bitcoin hashrate to serve the AI ​​market, but their market capitalization still represents a significant discount compared to their data center peers in terms of megawatt-hours. Sigel pointed out that after decades of undersupply, the power grid is currently facing multiple demand shocks, and miners were among the first to recognize the value of capital gains through this transformation. Core Scientific recently announced plans to sell most of its Bitcoin holdings this year to expand its AI and high-performance computing businesses. Riot Platforms CEO Jason Les also stated that 2025 is a watershed year for the company's strategic transformation, aiming to enhance shareholder value by allocating nearly 2 gigawatts of power resources to high-demand data center infrastructure. Over the past 12 months, Core Scientific's stock price has risen 90%, Riot's has risen 91%, while MARA Holdings has fallen 35% during the same period due to higher mining costs and lower block output. Sigel also mentioned that VanEck's NODE ETF has risen by more than 30% since its launch last May, with net assets reaching $56 million.