Power Shortage Spells Opportunity for Bitcoin Miners

The VanEck report from Mid-September 2026 highlights a key issue in the bitcoin mining landscape - power scarcity. According to the analysis, miners have control over the scarce asset of megawatts and are well-positioned to capture value as the market continues to grow.

The study re-underwrites US data center supply and demand from scratch, concluding that NVDA, AMD, and AVGO will need approximately 30 gigawatts (GW) of power through 2027. However, the grid can only deliver 15-25 GW per year, resulting in a significant shortage.

The report emphasizes that miners are uniquely positioned to benefit from this shortage, as they already possess energized power and have expansion opportunities that have been in the works for years. In contrast, companies like NVDA, AMD, and AVGO face greater risks due to their reliance on external power supply.