The Artificial Intelligence Infrastructure Partnership (AIP), a consortium led by BlackRock’s GIP with members like Nvidia, Microsoft, and xAI, is purchasing Aligned Data Centers from Macquarie for a record-high $40 billion to expand vital AI capacity.
VanEck’s Matthew Sigel argues this deal creates a significant arbitrage opportunity for undervalued Bitcoin miners to significantly re-rate their stock by hosting high-demand AI computing.
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Massive Data Center Acquisition Fuels AI Capacity
A powerful investment consortium is acquiring Aligned Data Centers from Macquarie Asset Management in a record-breaking deal that values the company at approximately $40 billion.
The consortium, known as the Artificial Intelligence Infrastructure Partnership (AIP), is led by BlackRock’s Global Infrastructure Partners (GIP). It includes tech giants Nvidia, Microsoft, Elon Musk’s xAI, and Abu Dhabi’s investment firm MGX.
By acquiring Aligned Data Centers, the consortium gains a massive portfolio of specialized, high-density data centers.
This infrastructure provides over 5 gigawatts of operational and planned capacity across the Americas. This scale is essential for hosting the computationally demanding workloads that next-generation AI and cloud platforms require.
The move also secures ownership of Aligned’s cooling technology, a critical component for managing the extreme heat generated by AI hardware.
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The purchase marks AIP’s first investment. The deal is slated to finalize during the first six months of 2026.
It’s also expected to have positive spillover effects for Bitcoin miners.
Miners Trade at $3 Million While AI Pays $8 Million
In a social media post, Matthew Sigel, VanEck’s Head of Digital Assets Research, broke down the meaning of acquisition for the mining sector.
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The analyst determined that the $40 billion price tag, when spread across 5 gigawatts of the company’s planned power capacity, means the consortium is paying $8 million for every megawatt.
Sigel pointed out that publicly traded Bitcoin miners such as Riot Platforms, Hut 8, and IREN appear significantly undervalued by the stock market. Despite owning the same massive electrical infrastructure, their assets are valued at just $3 million per megawatt.
This $5 million per megawatt difference gives miners a significant financial advantage, representing a hidden arbitrage opportunity. These companies can unlock this value by adapting their facilities to host high-demand AI computing in addition to Bitcoin mining.
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The stock market currently views Bitcoin mining firms as volatile “crypto companies.” However, signing stable, long-term contracts with major AI providers can prove that their sites are valuable power hubs.
This shift would allow the market to “re-rate” their company valuation closer to the levels of pure data center businesses. Sigel suggested this change could lead to a substantial 150% to 500% increase in stock value for current shareholders.
Meanwhile, long-term AI contracts offer stable, guaranteed income. This is crucial for securing loans for upgrades and avoiding stock dilution for current shareholders.
Source: https://beincrypto.com/blackrock-ai-deal-bitcoin-miners-arbitrage-opportunity/
