35% Drop in Bitcoin Miners: Why Does VanEck See an Opportunity?

Shares of Bitcoin miners that are pivoting toward AI infrastructure fell an average of 35% in October, prompting VanEck to argue the market is mispricing the sector by lumping firms with owned power capacity together with debt-fueled competitors. The asset manager contends that miners converting into data-center operators hold a structural edge over leveraged peers as demand for AI compute grows. VanEck frames the selloff as a potential opportunity rather than a deterioration in fundamentals. What to watch next is whether power-backed miners can monetize their electricity capacity through AI hosting deals and whether the valuation gap with debt-heavy rivals narrows.