Bye-bye Bitcoin, hello AI: Texas miners leave crypto for next new wave
Texas miners pivot to AI, exemplified by Lancium and Crusoe Energy Systems' partnership for a 200MW data center near Abilene. Shift from bitcoin mining to AI reflects industry trend for profitability and sustainability.
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Texas miners are shifting from bitcoin to artificial intelligence (AI) as Houston-based Lancium and Denver-based Crusoe Energy Systems announce a multibillion-dollar deal to build a 200-megawatt data center near Abilene, Texas, catering to AI companies. This move reflects a broader trend in the industry to power AI operations and move away from bitcoin mining due to profitability challenges post-bitcoin halving. The shift to AI is proving successful for miners, with companies like Bit Digital and Hut 8 diversifying their revenue streams by supplying AI infrastructure. Crusoe Energy Systems, known for its work in bitcoin mining, is now focusing on AI infrastructure, leveraging renewable energy sources to power their data centers. The AI industry's growing demand for computing capacity and the flexibility of bitcoin miners as electricity consumers are driving this transition. The move towards AI is seen as a strategic shift for companies like Lancium and Crusoe, aligning with the evolving needs of modern data centers optimized for energy efficiency and scalability.
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