VanEck to Increase Bitcoin Miner Investments Amid Trumps Pro-Crypto Push
Leading asset manager VanEck plans to boost its investments into Bitcoin miners amid President Donald Trump's pro-crypto push.Throughout the run-up to the 2024 presidential elections and the days that have followed, President Donald Trump has made it abundantly clear that he intends to prioritize the U.S.'s competitive edge in technology, with a particular focus on crypto and artificial intelligence. Unsurprisingly, investment firms are taking note.VanEck Eyes Bitcoin Mining EquitiesAmid President Donald Trump's pro-crypto and AI push, $114 billion global asset manager VanEck is looking to invest more in Bitcoin miners.The firm recently disclosed this, highlighting that Bitcoin mining firms occupied a unique position as a converging point for crypto and AI amid the energy demands of both industries and miners' ability to repurpose energy from Bitcoin mining to AI computing.As the AI industry grows, they expect miners towing this line to benefit significantly.https://twitter.com/matthew_sigel/status/1883988571176198289As highlighted by VanEck, the broader market also appears to share this perception as players like Core Scientific, Terawulf, and Hut 8, that have signaled pivots to offer compute power for AI, have generally outperformed players like Cleanspark and Marathon Digital, who have not signaled such pivots over the past year.For example, Core Scientific stock posted a staggering 302% gain in the past year, while Marathon Digital's shares saw a 28% decline.
Text source: The Crypto Basic
