A few years
ago, many publicly traded companies significantly transformed their business to
capitalize on the growing popularity of cryptocurrency mining. Now, as the
profitability of these operations becomes decidedly smaller, they are looking
for alternatives and moving towards a new boom. As a result, more miners are
beginning to offer access to substantial computing power from their data
centers to companies in the rapidly growing artificial intelligence (AI)
sector.
According
to the latest report by JPMorgan published last week, the largest mining
companies are no longer restricting themselves to mining Bitcoin (BTC) and
other cryptocurrencies. Additionally, they offer high-performance computing
(HPC) services in the AI industry. This industry is developing dynamically and
has an increasing demand for computing power.
Popular
brands in the Bitcoin mining industry, such as Riot Blockchain (RIOT) and Hive
Blockchain Technologies (HIVE), have even changed their names to emphasize the
diversification of their business. RIOT is now Riot Platform, and HIVE is Hive
Digital Technologies. Cryptocurrencies mined and held as reserves have served
them in recent quarters to carry out new investments and adapt to a market
increasingly driven by the AI craze.
Ethereum
