Bitcoin Mining Stocks Plunge 35% as VanEck Sees Oversold Opportunity
Summary
Bitcoin mining stocks pursuing AI data center businesses fell about 35% in October. VanEck says investor concerns over AI infrastructure financing and broader economic uncertainty spread to miners, despite different business models and no reported cancellations of signed leases. The firm argues miners may benefit from scarce electricity capacity and long grid-connection delays because they already have facilities and power agreements. VanEck views the selloff as potentially excessive, while noting companies still face financing, construction and operational risks as they seek to turn existing power infrastructure into lasting AI revenue.
