Crypto Miners Are Pivoting to AI (Like Everyone Else)

That’s the important thing phrase right here: diversify. For mining-focused corporations like Hut 8, Utilized Digital, Iris Power, and probably Mintgreen, the thought shouldn’t be a whole pivot from bitcoin to AI, however moderately making a broader portfolio that’s extra sturdy in a bear market. “We have to have a number of income streams,” says Rayner, “in order that we’re probably the most environment friendly miner and might keep nimble and strategic if margins compress.” And “margins compress,” after all, is a euphemism for an additional crash in bitcoin costs. That would wipe out some bitcoin-only miners; for others, AI might imply survival.