As Bitcoin mining becomes more competitive and challenging, industry leaders are trying to win cash in AI data centers, but it’s not easy.
At a Mining Disruption Conference held this week in Fort Lauderdale, Florida, Leading Miners said that skills and care are needed to navigate the transition to AI.
“In the long term, (AI) is a big trend,” said Paul Li, CEO of mining technology provider Fog Hashing, in a speech. “We can’t miss it. You (miners) need to go far this year.
Over the past few months, bitcoin miners have been trying to cut costs in half and amid the recession of the crypto market.
Bitcoin Miner has already been focusing on AI for a while. Both industries use enormous amounts of energy, but they are constantly wandering around to make it cheaper. Bitcoin has recently been trading at around $87,202 in the last 24 hours, almost flat, and nearly flat for around $87,202, according to data provider Coingecko.
If Bitcoin prices fell and they weren’t building new digital coins, some miners have pivoted their infrastructure to deal with AI demand.
Being familiar with running data centers can be faster and more efficient than other facilities that serve AI. “It’s somewhat like mining,” said Andri Galanin, boss of Hiveon Energy. Decryption. “A data center is a data center.”
It’s easy to find staff. The industry has been around for many years, but Bitcoin mining is new, but there are headwinds, says miners.
“In terms of infrastructure, it’s completely different,” said Shannon Squire, Compass Mining. Decryption. “The Bitcoin Mining Farm is like a chicken coop compared to a Tier 3 data center. It’s not even nearby,” he continued, noting that the setup is more complicated and that heating, ventilation and air conditioning are essential to set up operations.
Bitcoin miners may sometimes be like that erasewhen they want to relieve pressure on the power grid. Because the network is decentralized, temporarily shutting down operations is not an issue.
But this is no go when running AI data centers, Squires said. “We can be suspended (as a Bitcoin miner), but traditional data centers are 100% of the time (we need to do so),” he said, adding that this UPS takes a lot of time.
edit James Rubin
