Grayscale converted its Bitcoin Miners ETF, formerly MNRS, into the Grayscale AI Compute ETF, or GCPU, on September 22, shifting its benchmark to the Indxx High Performance Computing Index. The fund invests in companies developing data centers, power supply and computing capacity for artificial-intelligence workloads, rather than tracking Bitcoin miners or holding digital assets directly. Roughly half of the portfolio targets GPU cloud and AI-hosting businesses, while the remainder includes high-performance-computing operators, including former or current Bitcoin miners expanding into AI services. The shift reflects growing demand for AI infrastructure: announced AI and high-performance-computing contracts across the mining sector total about $70 billion to $100 billion, while North American data centers had roughly six months of spare capacity, according to CBRE data cited by Grayscale. Mining companies with AI or HPC contracts have outperformed some peers, supported by higher potential revenue from AI cloud services and demand for grid-connected facilities.