PANews reported on August 18 that according to Cointelegraph, investment firm VanEck said that if by 2027, some Bitcoin miners transform to provide energy for artificial intelligence and high-performance computing (HPC) fields, there is an opportunity to generate an additional revenue of approximately US$13.9 billion per year.
“AI companies need energy, and bitcoin miners have it,” VanEck said in an Aug. 16 report. The firm believes bitcoin miners face profitability risks from volatile operating costs and bitcoin price swings, and shifting some energy capacity toward growth industries could be a boon to their financials.
VanEck claims: “Bitcoin miners typically have terrible balance sheets, either because of too much debt, too many equity issuances, too much executive compensation, or all three.” VanEck estimates that if publicly traded Bitcoin mining companies shifted 20% of their energy capacity to AI and HPC by 2027, “the total additional profits could average more than $13.9 billion per year over 13 years.”
