CandleFocus BTC miner Hut 8 pivots to AI as BTC profits dry up
2024-10-04
Author: Content Editor
Bitcoin (BTC) miners are turning to artificial intelligence (AI) as block rewards dwindle, with Hut 8, one of the largest US miners, launching a GPU-as-a-Service for AI clients. The service is powered by Nvidia GPUs and Highrise AI, a subsidiary of Hut 8. The move follows other major players like Core Scientific and Bitdeer pivoting to AI. The shift is driven by the high demand for GPUs in AI data centers, with the global market projected to reach $201 billion by 2032. It is estimated that 20% of BTC mining capacity will shift to AI by 2027.
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