Jan 31 (Reuters) – Toronto-based bitcoin miner Bitfarms (BITF.TO), opens new tab has enlisted two consultants to discover the way it can remodel a few of its services to satisfy the rising demand for synthetic intelligence knowledge facilities, it mentioned on Friday.
WHY IT’S IMPORTANT
Crypto miners usually personal giant plots of land and important energy assets — belongings which might be additionally essential for high-performance computing (HPC) and AI knowledge facilities.
To capitalize on the AI increase, many miners have begun to repurpose components of their operations into knowledge facilities, given they have already got many of the infrastructure.
Critics of the strategy, nevertheless, warn that the shift will not be profitable as a result of AI knowledge facilities are extra refined.
CONTEXT
Bitfarms mentioned the consultants, Appleby Technique Group and World Huge Know-how, will analyze its North American websites.
They may also advise the corporate on its computing and AI technique, whereas advertising and marketing the websites to potential prospects.
Earlier this month, Riot Platforms (RIOT.O), opens new tablaunched a evaluate, opens new tab of the potential AI and computing makes use of for components of its facility in Navarro County, Texas.
KEY QUOTE
“The contracts related to HPC/AI prospects present long-term, regular money flows and earnings streams, whereas our bitcoin mining operations will proceed to monetize bitcoin’s versatile upside potential,” Bitfarms CEO Ben Gagnon mentioned.
