Bitcoin Miners Pivot to AI Amid Halving Concerns
JPMorgan reports that Bitcoin miners are diversifying their operations in anticipation of the upcoming halving event, which will slash their rewards. Miners are now venturing into the booming artificial intelligence (AI) market, offering high-performance computing services. This shift is partly funded by selling newly minted or existing bitcoins. Companies like Applied Digital and Iris Energy are already making strides in AI cloud services. Additionally, post Ethereum’s shift from proof-of-work, former Ethereum miners are leveraging GPUs for AI, finding it potentially more profitable than traditional mining.
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JPMorgan reports that Bitcoin miners are diversifying their operations in anticipation of the upcoming halving event, which will slash their rewards.
Miners are now venturing into the booming artificial intelligence (AI) market, offering high-performance computing services. This shift is partly funded by selling newly minted or existing bitcoins. Companies like Applied Digital and Iris Energy are already making strides in AI cloud services.
Additionally, post Ethereum's shift from proof-of-work, former Ethereum miners are leveraging GPUs for AI, finding it potentially more profitable than traditional mining.
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