Bitcoin News Today: As cryptocurrency earnings decline, Bitcoin miners shift focus to AI
- Bitcoin miners pivot to AI infrastructure as crypto profits decline, with Bitfarms planning to shut down mining by 2027 and retrofit facilities with Nvidia GPUs. - Industry leaders like Cipher Mining and Digi Power X secure AI deals with AWS/Microsoft, driven by Bitcoin's near-break-even hash price and thinning margins. - Political ties emerge as Scaramucci family invests $100M+ in American Bitcoin , highlighting crypto's role in cross-partisan financial strategies despite equipment controversies. - Anal
As cryptocurrency prices decline and profit margins shrink, Bitcoin mining companies are increasingly moving toward high-performance computing (HPC) and artificial intelligence (AI) infrastructure to maintain profitability.
This shift is part of a larger trend affecting the sector. The hash price for Bitcoin has
At the same time, the political and financial connections of Bitcoin mining are coming under greater scrutiny. The Scaramucci family,
Bitfarms’ third-quarter performance underscores the industry’s instability. The company
Experts in the field caution that transitioning to AI is not without its difficulties. Projects could be delayed, and the economics of GPU-as-a-Service might not meet expectations. Still, with Bitcoin prices near six-month lows and the hash rate exceeding one zetahash per second, this strategic shift seems unavoidable for companies looking for more reliable income sources.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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