Why So Many Bitcoin Mining Companies Are Pivoting to AI

As AI companies work furiously to improve the intelligence and usefulness of their products, their demand for cheap, plentiful energy has skyrocketed. This gold rush has been extremely profitable for an unlikely beneficiary: Bitcoin miners.

In recent months, major Bitcoin mining companies have started to swap out some of their mining equipment in favor of rigs used to run and train AI systems. These companies believe that AI training could provide a safer and more consistent source of revenue than the volatile crypto industry.