From bitcoin to artificial intelligence: why miners are changing the business model
24 December 18:41
Companies specializing in bitcoin mining are increasingly reorienting their infrastructure to serve artificial intelligence projects. Investors perceive this shift positively: since the beginning of the year, the CoinShares Bitcoin Mining ETF has grown by about 90%, despite the weak dynamics of bitcoin itself, The Washington Post reports , "Komersant Ukrainian"
Why miners have become interesting for the AI industry
The artificial intelligence market is experiencing a shortage of data centers. Large tech companies are looking for sites with ready-made connections to power grids, cooling systems, and access to land plots.
Bitcoin miners own such assets. Their facilities were originally built for energy-intensive computing, so they can be converted to AI needs relatively quickly without long and expensive construction from scratch.
What needs to be changed to work with AI
The transition from cryptocurrency mining to AI computing services is not easy. Companies have to
- replace specialized mining chips with graphics processing units (GPUs)
- modernize the network infrastructure;
- rebuild cooling systems to adapt them to longer and more complex loads.
Despite the high initial costs, such investments can pay off through long-term contracts with AI companies.
More stable revenue instead of volatility
AI contracts provide a more predictable cash flow than bitcoin mining, whose profitability is highly dependent on the price of the cryptocurrency and the complexity of the network.
Amid declining margins in traditional mining, some companies are already openly stating that in the future they may completely abandon bitcoin mining and focus on data centers for AI. Others see the new direction as a form of risk diversification.
Possible consequences for the bitcoin market
If a significant number of US miners switch to AI, it could reduce the US share of global bitcoin mining.
This scenario contradicts the political statements of previous years, which emphasized the need to concentrate mining within the country as an element of technological and energy security.
