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WGMI Bitcoin Mining ETF adds AI data center and power plays
The updated ETF will allocate at least 80% of net assets to bitcoin mining and digital power companies, and the report cites AI and HPC contracts by miners totaling over $70 billion.
Bitcoin mining facilities built for cryptocurrency are increasingly being repositioned for artificial intelligence, with miners owning power-connected sites that AI firms need for data centers, according to a CoinShares report cited by ETF Trends.
CoinShares says global data center electricity use is projected to roughly double by 2030, rising from about 485 terawatt-hours in 2025 to 950 TWh, and notes that U.S. data centers are expected to drive almost half of electricity demand growth through 2030. The report argues that chips are no longer the main constraint, with energized land, secured power connections, high-voltage infrastructure, and cooling systems more scarce.
As a result, CoinShares updated the CoinShares Bitcoin Mining ETF, WGMI, to broaden beyond bitcoin miners. The fund now targets at least 80% of net assets in bitcoin mining and digital power companies, with eligible holdings including hyperscale data centers and semiconductor suppliers, as well as power generation, energy storage, and high-performance or quantum computing companies tied to AI.
The outlet highlights example AI-related infrastructure deals, including Core Scientific signing 12-year hosting agreements with CoreWeave totaling $10.2 billion in contract value, and Microsoft-linked IREN and Hut 8 deals valued at $9.7 billion and $9.8 billion, respectively. ETF Trends also notes CoinShares cautions that mining stock risk remains tied to bitcoin price moves, while AI hosting adds exposure to a limited set of AI customers and execution risk over multiyear construction.
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