CandleFocus CEO of Bitcoin Mining Giant Marathon Predicts Energy Market Disruption
2024-09-23
Author: Content Editor
Fred Thiel, CEO of Marathon Digital, a Bitcoin mining company, predicts rapid innovation and disruption in energy markets. He notes that AI and data center companies have become major financial backers of new energy projects and are reviving old nuclear plants. Thiel believes that data center operators will achieve energy self-sovereignty, leading to positive changes in energy markets for consumers. In response to declining profitability in Bitcoin mining, some industry players have shifted to AI. Marathon Digital made headlines by selling convertible notes to buy more Bitcoin instead of mining equipment. The company's shares have declined by over 30% year-to-date.
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