Why So Many Bitcoin Mining Companies Are Pivoting to AI
Bitcoin mining companies pivot to AI due to high energy demand. AI training offers stable revenue. Major miners switch equipment, boosting market value. AI's energy needs spark competition for power sources, raising environmental concerns.
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Bitcoin mining companies are increasingly shifting their focus to artificial intelligence (AI) due to the soaring demand for energy by AI companies. This transition is driven by the belief that AI training could offer a more stable revenue stream compared to the volatile cryptocurrency industry. Major mining companies have started replacing some of their equipment with rigs used for AI systems, leading to a significant increase in their market value. The AI boom has created a massive demand for energy, with AI models like ChatGPT requiring substantial computational power. As a result, AI companies are seeking access to cheap power sources and large spaces to accommodate their operations, leading to competition for suitable sites, especially in North America. The partnership between AI and bitcoin mining industries is seen as mutually beneficial, with AI companies leveraging the infrastructure and energy resources of bitcoin miners, while miners seek the stability and potential profits from AI operations. However, this increased demand for energy has raised concerns among climate activists about the environmental impact, especially if powered by fossil fuels.
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9 commentsStep 1: Notice high potential market that could, but doesn't need to, disrupt established practices and hierarchies by federating stuff. Step 2: Suck all the leaking behavioral and private data out of it. Stup 3: Gain as much control over the supply chains & the market as possible, eliminating federation.
Also: AGI hasn't found its optimal hardware-software combo yet, so "porting" it all to networked mining rigs is worth trying and progressing. And neural nets and blockchains have quite a bit to give & take to & from each other.
*Thinking quietly again ...
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