• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Bitcoin Miners and AI Companies Compete for Electricity Access

user avatar

by Giorgi Kostiuk

a year ago

  1. Growth of AI and Cloud Computing
  2. Impact on Bitcoin Miners
  3. Future of Energy Competition


    4. As artificial intelligence (AI) and cloud computing industries experience unprecedented growth, Bitcoin miners are increasingly being edged out in the competition for energy resources.

    Growth of AI and Cloud Computing

    Greg Beard, CEO of Stronghold Digital Mining, remarked that AI companies are now competing directly with Bitcoin miners for access to power grids, with many willing to pay a premium for electricity.

    AI companies are now competing directly with Bitcoin miners for access to power grids, with many willing to pay a premium for electricity.Greg Beard, CEO of Stronghold Digital Mining

    Impact on Bitcoin Miners

    This new dynamic has put pressure on miners, who rely heavily on affordable and abundant energy. Beard emphasized that AI dominance in energy consumption is a battle waged by the biggest tech companies, like Amazon and Microsoft, whose deep pockets allow them to outbid Bitcoin miners.

    Future of Energy Competition

    With AI expected to consume up to 9% of U.S. electricity by 2030, the competition between tech and crypto is set to intensify, forcing miners to adapt or risk being pushed out of the market.

    The energy competition between AI companies and Bitcoin miners highlights the importance of innovative approaches and adaptation to survive in the rapidly changing tech landscape.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

US Dollar Index Plummets to Lowest Level Since March 2022

chest

The US dollar index has fallen to 9617, marking its weakest level since March 2022, as the currency faces a sell-off for the fourth consecutive day.

user avatarGustavo Mendoza

UnitedHealth's 19% Drop Causes Dow Jones to Fall Over 300 Points

chest

UnitedHealth's stock has dropped by 19%, causing a significant decline in the Dow Jones, which fell by over 300 points.

user avatarRajesh Kumar

Institutional Investors Await Lower LINK Prices for Re-Engagement

chest

Institutional investors may be waiting for lower LINK price levels before increasing their positions.

user avatarElias Mukuru

LINK ETFs Accumulate Significant Supply Amidst Steady Institutional Inflows

chest

Spot LINK ETFs have absorbed over 1% of Chainlink's total circulating supply, indicating strong institutional interest despite muted market response.

user avatarKenji Takahashi

Google Integrates Personal Intelligence into AI Mode for Tailored Search Responses

chest

Google integrates Personal Intelligence into AI Mode for tailored search responses.

user avatarDiego Alvarez

Google Enhances Search Experience with AI Overviews and AI Mode Integration

chest

Google has launched a groundbreaking update that allows users to transition seamlessly from AI Overviews to AI Mode conversations, fundamentally changing how users interact with search results.

user avatarDavid Robinson

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.