Crypto firms are now at the forefront of deal-making. Artificial intelligence acts as a catalyst.
Bitcoin mining businesses have massive data centres with access to fibre links and plenty of power throughout the United States.
They’re exactly the facilities required for compute-intensive AI processes, hence their locations and technology are in high demand.
Meanwhile, miners should diversify their operations. Following the halving of bitcoin in April, which happens around every four years, the business of creating new currencies has become significantly less profitable.
In a study earlier this month, JPMorgan Chase analysts stated that “some operators are feeling the financial pinch from the recent block reward halving, which cut industry revenues in half, and are actively exploring exit strategies.”
Mergers, financings, and partnerships are quickly forming as the booming AI industry need capacity and bitcoin miners seek new methods to produce returns on their large capital expenditures.
Source (CNBC)
