Blockchain Tech and AI Will Have ‘Very Tight Coupling’: Marathon Digital CEO - Decrypt

Bitcoin mining company Marathon Digital Holdings is investing in the AI sector and aims to build applications on the Bitcoin blockchain, citing the blockchain's decentralized nature and resistance to censorship as ideal for storing data, according to CEO Fred Thiel, who also noted the tight coupling between blockchain and AI technologies. Marathon has recently expanded its mining operations to Abu Dhabi and plans to diversify further into international markets, particularly in Africa, Latin America, and Asia. The company is also increasing its Bitcoin holdings and intends to sell a portion of its holdings to support operations while continuing to add to its balance sheet.

decrypt.co

Relevant topic timeline:

8/22/2023

Crypto miner Hive Digital CEO sees AI working in unison with blockchain

Hive Blockchain, now named Hive Digital Technologies, is pivoting from crypto mining to focus on artificial intelligence (AI) and blockchain technology, seeing them as complementary pillars of Web3 development. The company believes that AI can enhance the user experience of Web3 by providing adaptive and intuitive features, and it sees AI playing a role in the development of metaverses and DAOs in the early stages of Web3. Hive Digital Technologies is still heavily involved in Bitcoin and crypto mining, with plans to increase its Bitcoin mining capacity by the end of the year.

8/21/2023

Ethereum Has Evolved – Bit Digital Allows Crypto Investors To Align Their Investment Strategies With Their Environmental Values Through New Ethereum Staking - Bit Digital (NASDAQ:BTBT)

New York-based sustainable Bitcoin mining operation Bit Digital has added Ethereum Staking to its operations, leveraging Ethereum's proof-of-stake model to generate a new revenue stream and promote sustainability in cryptocurrency mining.

8/28/2023

Marathon Digital: Overpaying For A Mining Business That Overpays For Bitcoin (NASDAQ:MARA)

Marathon Digital Holdings (MARA) is unlikely to outperform Bitcoin or Grayscale Bitcoin Trust (GBTC) due to its negative value as a mining business and its stock trading at a large premium to its net asset value (NAV). MARA consistently fails to mine Bitcoin at a cost below its market price, resulting in negative profits from mining operations. Additionally, the stock is trading at a 158% premium to NAV, making it an unfavorable investment compared to BTC or GBTC.

9/8/2023

Coinbase and Marathon See Mixed Fortunes as Crypto Adoption Advances

Crypto giant Coinbase has launched a lending platform for institutional investors in the US, aiming to fill the gap left by bankrupt players in the crypto lending market, while Marathon Digital's Bitcoin mining rate fell 9% in August due to increased curtailment activity, and Hana Bank has partnered with BitGo to offer digital asset custody services in South Korea.

Topics

Posted 8/25/2023, 11:44:50 AM