VanEck Sees Nuclear Power Boosting AI and Easing Bitcoin Sell Pressure

VanEck CEO Jan van Eck has proposed a straightforward idea: approving more nuclear power plants could simultaneously benefit two distinct industries, artificial intelligence (AI) and Bitcoin. His argument hinges on the fact that both AI data centers and Bitcoin mining operations consume vast amounts of electricity, making access to cheap, reliable power crucial for their economics.

In a September 2025 interview, van Eck pointed to a growing policy shift favoring nuclear energy in the US, driven by surging electricity demand from AI and digital asset activities. He cited bipartisan support, including a plan to quadruple US nuclear output over the next 25 years, and highlighted the expedited restart of a reactor at Three Mile Island through a deal between Microsoft and Constellation Energy.

Matthew Sigel, head of digital assets research at VanEck, noted that Bitcoin miners are in a strong position due to their existing power contracts and infrastructure, assets that AI companies are eager to secure. He argued that miners are undervalued compared to traditional data center operators and that their long-term power agreements offer 'underappreciated optionality.' If miners earn revenue from AI contracts, they may rely less on selling Bitcoin to cover operating costs, potentially reducing sell pressure on the cryptocurrency.

VanEck has investments in both nuclear and crypto sectors, including the VanEck Uranium and Nuclear ETF (ticker: NLR), which gained approximately 40% in the year and attracted around $2.8 billion in assets by the end of 2025. Observers should consider the firm's stake in promoting the overlap between nuclear energy and cryptocurrency.