Artificial Intelligence

Bitcoin

Hive

Partner

<a href="https://ultramining.com/news/en/russias-bitcoin-gold-rush-mining-machine-influx-outpaces-rest-of-the-world/">Bitcoin miners</a> are diving into Artificial Intelligence (AI) and High-Performance Computing (HPC). They aim to boost profits and diversify revenue streams. This move marks a transformative shift in the cryptocurrency industry, according to <a href="https://education.compassmining.io/education/bitcoin-miners-embrace-artificial-intelligence-and-high-performance-computing-for-revenue-growth/">compassmining</a>. 
Miners are using AI to optimize energy use and predict equipment maintenance. They are also exploring AI-driven HPC for complex calculations. This adoption helps them adapt to the volatile cryptocurrency landscape and improve profitability. 
Diversification into AI and HPC has clear benefits for <a href="https://ultramining.com/news/en/russias-bitcoin-gold-rush-mining-machine-influx-outpaces-rest-of-the-world/">Bitcoin miners</a>. First, it mitigates the risks tied to market volatility. Second, miners already have substantial <a href="https://ultramining.com/news/en/kaspa-takes-the-lead-in-gpu-mining-sets-sights-on-transforming-pow-landscape/">GPU</a> infrastructure, making it easier to enter the AI and HPC sectors. Additionally, the high demand for AI and HPC services across industries offers miners new market opportunities. 
However, skepticism exists. Critics call the move a "gimmick" due to the high costs involved. Building a 'tier 3' data center can cost up to $10 million per MW, far exceeding the $800,000 to $850,000 required for Bitcoin mining centers. 
Prominent Bitcoin miners like Hive Digital have already invested heavily in this new direction. In 2021, Hive Digital joined NVIDIA's Partner Network and invested over $66 million in GPUs. After the Ethereum Merge in 2022, the company pivoted towards AI and HPC services, showing promise in initial tests. 
Similarly, <a href="https://ultramining.com/news/en/hut-8s-q2-2023-a-bitcoin-mining-marvel/">Hut 8</a> acquired a cloud and colocation data center business in 2022. They've secured a long-term contract with Interior Health, a health authority in British Columbia, extending services until 2028. 
<a href="https://ultramining.com/news/en/iris-energy-diversifies-into-ai-with-10-million-nvidia-gpu-purchase-amid-bitcoin-focus/">Iris Energy</a> invested $10 million in NVIDIA GPUs. They also partnered with WEKA, a data platform software provider, enhancing their <a href="https://ultramining.com/news/en/kaspa-takes-the-lead-in-gpu-mining-sets-sights-on-transforming-pow-landscape/">GPU</a> cloud and colocation capabilities. 
Bit Digital, the latest entrant, signed a term sheet with a customer for GPU-accelerated workload support. They are also in the process of acquiring FusionOne HPC systems for around $35 million. 
In summary, Bitcoin miners are actively diversifying into the promising sectors of AI and HPC. Despite skepticism and high initial costs, these miners see significant long-term benefits.&nbsp;

Bitcoin Miners Turn to AI and HPC, Eyeing Higher Profits and Diversification

Ultramining_Eng

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