Crypto Miners Are Attempting to Diversify Into Other Business Areas: JPMorgan
Bitcoin miners are expanding into high performance computing (HPC) services for the AI market as a way to reduce reliance on cryptocurrency, according to JPMorgan.
Posted 8/21/2023, 10:32:00 AM
coindesk.com
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Bitcoin miners are expanding into new ventures, such as offering high performance computing services for artificial intelligence, in order to reduce their reliance on cryptocurrency, according to a research report by JPMorgan.
Tesla is launching a powerful supercomputer that will enhance its computing capabilities for artificial intelligence (AI) applications and high-performance computing (HPC) workloads, making it one of the world's fastest supercomputers and giving the company a competitive edge in the automotive industry.
As Bitcoin prices decline, cryptocurrency miners are considering diversifying into the artificial intelligence market to offset lower margins, although the feasibility of transitioning to AI is uncertain.