Bitcoin

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With mining companies’ AI and high-performance computing contracts exceeding $70 billion, Luxor has raised $16 million to grow in this new market.
The shift of the Bitcoin mining industry towards AI data centers is creating a new market where computing power can be bought and sold. Luxor Technology, known for its mining services, has secured $16 million in funding to develop AI hardware and computing power contracts.
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The investment round was led by CMT Digital, with participation from Bitcoin mining device manufacturers Canaan and MicroBT. Part of the funding came from new investment in the company, and part from the sale of existing shares. Luxor did not separately disclose the amount that went directly into the company.
According to CoinShares data, the total value of AI and high-performance computing contracts signed by publicly traded Bitcoin mining companies exceeded $70 billion by the end of March. Miners are trying to diversify their revenue by leasing their electricity connections and physical space to AI companies.
However, transforming a Bitcoin mining facility into an AI data center isn’t just about having a strong power connection. Luxor evaluated more than half of its approximately 2 gigawatts of mining capacity where it provides software services. While most of the facilities surveyed had adequate power and fiber connections, it was determined that new data center infrastructure needed to be built.
Artificial intelligence systems have different cooling, connectivity, security, and operational continuity requirements than mining equipment. Therefore, it does not seem feasible for all mining facilities to transform into AI centers in the short term.
Luxor is also working on contracts that allow companies to pre-secure future computing costs. This model is similar to the financial contracts Bitcoin miners use to hedge against changes in revenue. In August, the company also launched an index that tracks the daily sales prices of Nvidia-based AI server systems.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/bitcoin-miners-turning-to-ai-a-new-70-billion-market-has-emerged-here-are-the-details/" rel="noopener noreferrer nofollow">Bitcoin Miners Turning to AI: A New $70 Billion Market Has Emerged! Here Are the Details</a>

Bitcoin Miners Turning to AI: A New $70 Billion Market Has Emerged! Here Are the Details

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