The post Bitcoin Miners Shift to AI and HPC Amid 2024 Halving Impact appeared on BitcoinEthereumNews.com.

Rebeca Moen Jan 25, 2025 16:03 Following the 2024 Bitcoin halving, miners are diversifying into AI and HPC to stabilize revenue streams, leveraging existing infrastructure to meet AI’s growing demand. The 2024 Bitcoin halving has prompted a significant shift among Bitcoin miners, who are now exploring diversification into Artificial Intelligence (AI) and High-Performance Computing (HPC) as a strategy to counteract declining profitability and market volatility. This strategic pivot is leveraging miners’ existing infrastructure to fulfill the rising demand for AI workloads, providing potentially more stable revenue streams compared to traditional Bitcoin mining, according to blog.bitfinex.com. Has the 2024 Bitcoin Halving Caused Bitcoin Miners to Seek Other Revenue Streams? The recent shift by Bitcoin miners towards AI and HPC infrastructure reflects the evolving dynamics of the mining industry. Historically dependent on Bitcoin mining profitability, which has been adversely affected by the 2024 Bitcoin halving, miners are now utilizing their established infrastructure to explore new revenue avenues. This transition is driven by the escalating demand for computational power in AI, necessitated by advancements in generative AI and machine learning technologies. Central to this shift is miners’ ability to repurpose their existing assets, such as low-cost power access and large-scale data centers. Several mining companies have initiated partnerships with AI firms or are independently retrofitting their facilities to accommodate AI workloads. For instance, Core Scientific’s hosting agreement with AI-focused CoreWeave is projected to generate billions in revenue over a 12-year contract. Similarly, Hut 8 Corp. and Iris Energy are integrating AI into their operations by deploying NVIDIA GPUs for AI modeling and cloud services. What Does This Pivot to AI Mean for the Bitcoin Mining Industry? Bitcoin miners’ transition to AI and HPC is primarily driven by economic necessity and strategic opportunity. The halving of Bitcoin block rewards in 2024 significantly reduced the…

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Filed under: News - @ January 25, 2025 8:25 pm