25 Apr 2024

Miners get into AI in preparation for post-halving reduced revenues

The bitcoin halving, which took place late last Friday, is notoriously an event that shakes up the crypto mining scene, as rewards for miners are cut in half. With the increased competition in the mining space, the reduced mining rewards, and the surge in demand for AI compute and infrastructure, several miners have started shifting towards artificial intelligence in search of potentially higher revenues. Mining firms such as Hive, BitDigital, and Core Scientific all either have ongoing AI operations or AI growth plans. Bitcoin halving events always drive innovation and adaptation among miners and this halving is no exception. While the data centre requirements are different for AI than for Bitcoin mining, this trend could become increasingly popular among miners looking to diversify revenue streams or recycle their business model to accommodate for the lower mining rewards. Source: https://www.cnbc.com/2024/04/21/bitcoin-miners-get-into-ai-to-survive-halving.html


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