Bitcoin Miners to Leverage AI Boom
Aug 20, 2024 pm 03:29 PM
In its latest report, VanEck's Sigel noted the growing role of BTC miners in AI, high-performance computing (HPC), and the overall energy markets.
The Bitcoin mining industry had a difficult few months with the halving event in April, but the booming artificial intelligence (AI) market could be a major game-changer, says VanEck head of Digital Assets Matthew Sigel.
In its latest report, VanEck’s Sigel highlights the increasing role of BTC miners in AI, high-performance computing (HPC) and the broader energy markets. While the BTC mining industry faced some challenges with the halving event, what many investors don’t realize is that BTC miners have a strong exposure to the booming AI sector.
Given that AI companies have huge energy demands, the Bitcoin miners that have the necessary power resources could become the major suppliers. Amid this high energy demand from miners and data centers, the wait time for grid connection in North America has exceeded four years, according to VanEck.
However, the BTC miners have been catering to the immediate demand for AI and HPC operations. By drawing significant power loads and participating in grid balancing programs, miners can energize GPUs for AI within a year—much faster than the four-plus years required for new AI data center developments to come online.
Considering this time advantage, there is a significant valuation gap between Bitcoin mining stocks and data center stocks trading in the market, said VanEck’s Sigel.
Bitcoin Mining Stocks Valuation Gap
The above is the detailed content of Bitcoin Miners to Leverage AI Boom. For more information, please follow other related articles on the PHP Chinese website!
Hot AI Tools
Undress AI Tool
Undress images for free
Undresser.AI Undress
AI-powered app for creating realistic nude photos
AI Clothes Remover
Online AI tool for removing clothes from photos.
Clothoff.io
AI clothes remover
Video Face Swap
Swap faces in any video effortlessly with our completely free AI face swap tool!
Hot Article
Hot Tools
Notepad++7.3.1
Easy-to-use and free code editor
SublimeText3 Chinese version
Chinese version, very easy to use
Zend Studio 13.0.1
Powerful PHP integrated development environment
Dreamweaver CS6
Visual web development tools
SublimeText3 Mac version
God-level code editing software (SublimeText3)
Hot Topics
Bitcoin (BTC) Poised for a 90% Rally as Puell Multiple Flashes Golden Cross
Nov 20, 2024 am 10:28 AM
Onchain data analytical platform CryptoQuant has flagged a key Bitcoin (BTC) metric that suggests a potential 90% rally for the leading cryptocurrency.
Bitcoin Surpasses $90,000, Shiba Inu Momentum Stalls, Solana Surges
Nov 20, 2024 am 11:21 AM
In addition to surpassing earlier highs, Bitcoin has reached a critical price level of $92,000, which has strengthened its position in the current bullish cycle.
Bitcoin (BTC) Set to Outperform Gold (XAU) Even Without US Government Backing, Says Luke Gromen
Nov 20, 2024 am 03:20 AM
Veteran macro investor Luke Gromen believes Bitcoin (BTC) is set to outperform gold even without the backing of the US government.
Bitcoin's Journey to $1M Relies on Scarcity, Adoption, and Market Dynamics, Not Magic
Nov 19, 2024 pm 09:36 PM
Bitcoin ETF inflows and treasury adoption push institutional confidence and price growth. Reaching 3% of global wealth could propel Bitcoin's market cap to $20 trillion.
Could Bitcoin (BTC) Price Hit $100k This Month? Here's What the Charts Say
Nov 19, 2024 am 09:34 AM
As Bitcoin continues its upward trajectory, analysts are increasingly discussing the possibility of it reaching $100k in November.
Bitcoin Price Prediction: BTC Projected to Hit $200,000 by 2025, $1 Million by 2033
Nov 19, 2024 pm 03:26 PM
Bitcoin (BTC) is projected to achieve $200.000 by the end of next year, increasing from the $150.000 price target last year.
Bitcoin, Ethereum and Dogecoin: Browse the Ocean of Crypto
Jul 02, 2025 pm 10:39 PM
A potential breakthrough for Bitcoin eyes, Ethereum expands its ecosystem, and Dogecoin…well, it’s still Dogecoin. Let's dive into the latest cryptocurrency updates! The crypto world never stops! Bitcoin is testing new highs, Ethereum continues to build, and Dogecoin is still... Dogecoin. Let’s take a look at the latest progress in Bitcoin, Ethereum and Dogecoin to see what is changing in the digital currency field. Bitcoin: Horizontal fluctuations and high forecasts Bitcoin has performed relatively smoothly recently. Although it is in a bull cycle, the price is still consolidating sideways. Cryptocon pointed out that the market is currently in a slow rising stage and the rebound time is still short. But don't be discouraged! TedPillow believes Bitcoin will follow the S&P 500 index
How to Buy Bitcoin in Spain: A Step-by-Step Guide
Nov 18, 2024 pm 09:56 PM
Many people say that we are just entering the crypto bull market and crypto prices especially on Bitcoin experienced a huge rise recently