Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
Bitcoin Miners Shifting to Artificial Intelligence and High-Performance Computing, According to VanEck Analysts

Bitcoin Miners Shifting to Artificial Intelligence and High-Performance Computing, According to VanEck Analysts

CointimeCointime2024/08/19 08:33
By:Cointime

Bitcoin miners are increasingly turning to artificial intelligence and high-performance computing to generate profits through strategic arbitrage, according to new research from VanEck. The firm estimates a $38 billion net present value opportunity by converting 20% of collective capacity to AI/HPC by 2027. Bitcoin miners are well-positioned to address the energy-intensive nature of AI projects and generate a new income stream, as they have access to power. While publicly traded BTC miners currently control a record percentage of Bitcoin's hashrate, the MarketVector Digital Asset Equity Index has underperformed against Bitcoin, leading VanEck to believe investors are missing a story that could double the market cap of the stocks.

0

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.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

TSMC faces slower October sales as AI chip hype fades

Share link:In this post: TSMC’s October sales growth slowed to 29.2%, the lowest since February, hinting at fading AI chip demand. Rising electricity costs in Taiwan are also hitting TSMC’s margins, with industrial power rates now higher than in competing regions like the U.S. and Japan. Taiwan’s price hikes, reliance on fossil fuels, and limited renewables create risks for TSMC’s production and expansion plans.

Cryptopolitan2024/11/08 18:00

Palworld developer hit with $66,000 lawsuit from Pokémon Company

Share link:In this post: Pocketpair received a 10 million yen lawsuit from Nintendo and the Pokemon Company. The company also revealed the three patents against it, which are related to the gameplay mechanics. These patents are part of a parent patent registered 2 years earlier by Nintendo and Pokemon Company.

Cryptopolitan2024/11/08 18:00