VanEck: Bitcoin mining companies are sitting on "gold mines," creating investment opportunities as they transition to AI infrastructure

SmartContractAuditor · 2026-03-11T16:08:06+00:00

VanEck Digital Asset Research Director Matthew Sigel pointed out in an interview that Bitcoin mining stocks are highly attractive, as mining companies are transitioning to serve the AI market, but their market capitalization is still undervalued. Core Scientific and Riot Platforms have increased shareholder value through transformation, with stock prices rising by 90% and 91%, respectively. At the same time, VanEck's NODE ETF has also performed well since last year.

SmartContractAuditor

2026-03-11 16:08:06

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Odaily Planet Daily reports that Matthew Sigel, Head of Digital Asset Research at VanEck, stated in an interview with CNBC that Bitcoin mining stocks are among the most attractive investments in the crypto space. Mining companies are actively shifting Bitcoin hash power to serve the AI market, but compared to other data center peers, their market capitalization relative to megawatt capacity still shows a significant discount. Sigel pointed out that after decades of supply shortages on the power grid, the current situation faces multiple demand shocks, and mining companies have recognized early on that transformation can yield valuable capital returns. 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 said that 2025 will be a turning point for the company’s strategic transformation, aiming to enhance shareholder value by utilizing nearly 2 gigawatts of electricity for high-demand data center infrastructure. Over the past 12 months, Core Scientific’s stock price has increased by 90%, Riot’s by 91%, while MARA Holdings fell 35% due to higher mining costs and declining block rewards. Sigel also mentioned that the VanEck NODE ETF, launched in May last year, has risen over 30%, with net assets reaching $56 million.

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