Matthew sigel: Investment banks doubted 2024 deals between hyperscalers and Bitcoin miners

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Daria Chernytska

06.07.2026

Matthew sigel: Investment banks doubted 2024 deals between hyperscalers and Bitcoin miners — Banks doubted Bitcoin miner deals in 2024

matthew sigel recalls attending a 2024 dinner hosted by a prominent investment bank whose name resembles "rentier."

At the event, representatives from the bank insisted Tier 1 hyperscalers would not enter infrastructure agreements with Bitcoin miners. sigel highlights that, despite this stance, the same bank was simultaneously underwriting highly leveraged digital asset companies.

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Sigel has previously highlighted Canaccord’s analysis that Strategy’s BTC acquisition model is most effective when using leverage, especially over forward periods, in a recent article. He also mentioned CIFR’s appointment of Bill Blevins to lead grid strategies, strengthening its capacity with 2GW in ERCOT’s batch zero across three sites, as reported earlier. Both developments reflect ongoing activity among digital asset firms.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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