Excerpt:

In June, Core Scientific—a public miner that recently emerged from bankruptcy following the 2022 crypto crash—announced it would host over 200 megawatts of GPUs (graphic processing units, which power AI training and operation) for the AI startup CoreWeave.

In the same month, bitcoin miner Hut 8 received a $150 million investment from Coatue Management to build artificial intelligence infrastructure.

The burgeoning relationship between Bitcoin miners and AI represents a win-win situation as it stands now.

Miners can diversify their revenue streams and mitigate the risks associated with volatile cryptocurrency markets. At the same time, AI companies gain access to reliable, scalable, and cost-effective computing power