Publicly traded Bitcoin mining companies expanding into artificial intelligence data center infrastructure saw their shares fall by an average of 35% in October. VanEck considers the decline excessive, saying financing concerns affecting the broader AI infrastructure sector spilled over to companies with different business models and revenue structures. No signed lease agreements were canceled, while limited electricity capacity and lengthy grid connection delays could give Bitcoin miners a competitive advantage. VanEck therefore views the selloff as a potential buying opportunity, although the companies still need to secure financing and successfully convert their power infrastructure into sustainable AI-related revenue.
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