As Bitcoin mining grows more competitive and challenging, industry leaders are looking to cash in on AI data centers—but it’s no easy feat.
Leading miners told the Mining Disrupt Conference in Fort Lauderdale this week that navigating AI is a complex process.
In the long term, [AI] Paul Li said in a speech that the mining technology company Fog Hashing was on a trend. We cannot miss it. It is important that you know what to do. [miners] Need to be far ahead this year as demand for AI-based computing is massive.”
Bitcoin miners are trying to reduce their expenses in recent months. This is after the previous halving, which reduced mining rewards by half.
Bitcoin miners have been looking at AI technology for a while. Both industries use huge amounts of energy—and are constantly on the prowl to get it cheap. Bitcoin recently traded for $87.202. This is about the same as it was in the previous 24 hours. It’s also far from its high of over $108,000, set back in January.
When Bitcoins’ price drops and minting digital coins doesn’t produce enough revenue, miners pivot their infrastructure in order to meet AI demand.
Because they know how to run data centers, these facilities can serve AI faster. Andrii Garanin of Hiveon told reporters that the process is “similar to mining” Decrypt. “A Data Center is a Data Center.”
Finding staff is easy as well—the industry has been around for a long-time while Bitcoin mining is new—although there are headwinds, miners say.
Compass Mining’s Shanon Squires said: “In terms infrastructure, the two are completely different.” Decrypt. “A Bitcoin mining farm is like a chicken coop compared to a tier three data center—it’s not even close,” he continued, noting that the set-up was more complex, with heating, ventilation, and air conditioning essential for setting up an operation.
Sometimes, Bitcoin miners can be found. Switch off. when they wish to release pressure from the grid. The network’s decentralization means that it is not important to temporarily stop operations.
Squires says this approach is not acceptable when managing an AI-based data center. We’re not interruptible [as Bitcoin miners]. he added that the costs of this are high.
Editor by James Rubin
