Jan 31 (Reuters) – Toronto-based bitcoin miner Bitfarms (BITF.TO), opens new tab has enlisted two consultants to discover the way it can rework a few of its amenities to fulfill the rising demand for synthetic intelligence knowledge facilities, it stated on Friday.
WHY IT’S IMPORTANT
Crypto miners usually personal massive plots of land and important energy sources — property which can be additionally essential for high-performance computing (HPC) and AI knowledge facilities.
To capitalize on the AI increase, many miners have begun to repurpose elements of their operations into knowledge facilities, given they have already got a lot of the infrastructure.
Critics of the strategy, nonetheless, warn that the shift will not be profitable as a result of AI knowledge facilities are extra refined.
CONTEXT
Bitfarms stated the consultants, Appleby Technique Group and World Extensive Know-how, will analyze its North American websites.
They may even 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 assessment, opens new tab of the potential AI and computing makes use of for elements 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 stated.
