• 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

Potential Implications for MicroStrategy from Strive's Model

chest

Strive Asset Management's recent announcement regarding perpetual preferred stock could significantly impact MicroStrategy, which is facing a $3 billion convertible debt burden by early 2025. Adopting Strive's model may help MicroStrategy avoid a liquidity crisis and improve its financial standing.

user avatarTando Nkube

Strive's Perpetual Preferred Stock Aims to Restructure Convertible Debt

chest

Strive Asset Management is issuing perpetual preferred stock to replace its convertible debt, enhancing financial flexibility and reducing future liabilities.

user avatarKofi Adjeman

Strive Asset Management Announces Perpetual Preferred Stock Issuance

chest

Strive Asset Management plans to issue perpetual preferred stock to enhance its financial stability and address the challenges of significant Bitcoin holdings.

user avatarSon Min-ho

Institutional Interest in Canton CC Grows Amid Market Fluctuations

chest

Canton's institutional narrative strengthens as it ties to broader blockchain infrastructure developments.

user avatarAyman Ben Youssef

Operation RapTor Targets Fentanyl Trafficking on Dark Web

chest

Operation RapTor is a large-scale international law enforcement initiative targeting dark web drug markets, resulting in the arrest of 270 individuals and the seizure of over $200 million in cash and digital assets.

user avatarNguyen Van Long

New Jersey Man Sentenced to 12 Years After Using Bitcoin to Pay Chinese Fentanyl Suppliers

chest

A Passaic County man, William Panzera, has been sentenced to 12 years in federal prison for his role in a large-scale fentanyl distribution and money laundering conspiracy that involved the use of Bitcoin to pay overseas drug suppliers.

user avatarSatoshi Nakamura

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.