According to BlockBeats news, on October 3, Matthew Sigel, director of digital asset research at VanEck, said in an interview that with the rapid development of the artificial intelligence industry, the power resources and long-term power contracts held by Bitcoin mining companies are gaining new value.
Sigel said that in the past, the core assets of Bitcoin mining companies were mainly regarded as computing power and BTC output capacity, but the demand for large amounts of stable power resources by AI data centers is changing the market's valuation of mining companies' power contracts. He said that some mining companies have signed long-term power lease agreements with investment-grade counterparties for 10 to 20 years. Such contracts are giving mining companies "optionality" that is different from pure BTC exposure. The development of the AI industry has made electricity an increasingly scarce resource, and mining companies with low-cost, long-term locked-in power supply may therefore gain new business opportunities, including the transformation to AI infrastructure.
On the Bitcoin market front, there are signs of seller fatigue in the current market and believe investors should focus on post-pullback opportunities. In addition, Sigel also compared the positioning of gold and Bitcoin in investment portfolios, believed that Bitcoin may continue to expand market share in the future, and discussed the potential impact of quantum computing on the Bitcoin network. He said that quantum computing is a long-term risk that needs attention, but it is not currently a reason for investors to sell BTC. VanEck is optimistic about the trend of Bitcoin adoption in the long term and regards the market value of Bitcoin reaching a certain proportion of the size of the gold market as one of the reference directions for future valuation.