Grayscale Ditches Bitcoin Mining for AI Computing Index

Grayscale Investments has repositioned its Grayscale Bitcoin Miners ETF (MNRS) to track an AI infrastructure index, shifting away from companies primarily involved in Bitcoin mining. The change reflects a growing convergence between the cryptocurrency mining industry and the broader computing sector, particularly as mining firms increasingly repurpose their facilities for AI workloads.

The original fund tracked publicly listed companies that derived most of their revenue from digital asset mining. Under its new strategy, MNRS will follow a Computing Index that includes firms building and operating AI and high-performance computing (HPC) infrastructure.

This pivot comes at a time when investor interest in pure-play crypto mining stocks has cooled, while demand for AI-related exposure has surged. By targeting an AI and HPC infrastructure index, Grayscale is responding to market trends that favor companies with exposure to data center operations, GPU clusters, and cloud computing services.