VanEck: Bitcoin mining companies turning to AI and HPC markets could generate an additional $13.9 billion in revenue annually

ChainCatcher news, according to Cointelegraph, VanEck recently stated in a report: "AI companies need energy, and Bitcoin miners have energy." The company believes that Bitcoin mining companies face profitability risks from fluctuations in operating costs and Bitcoin prices, and they may find it a good strategic choice to shift some energy capacity to the growing fields of artificial intelligence (AI) and high-performance computing (HPC).

VanEck stated: "The balance sheets of Bitcoin mining companies are usually poor, either due to excessive debt, too many shares issued, excessively high executive compensation, or a combination of all three."

VanEck estimates that if publicly listed Bitcoin mining companies shift 20% of their energy capacity to AI and high-performance computing by 2027, "the total additional profit per year will average over $13.9 billion over 13 years."

Meanwhile, VanEck pointed out that the benefit for Bitcoin mining companies to sign such contracts is that these AI companies are usually willing to provide the financial resources needed for capital expenditures.