Bitcoin mining companies are beginning to swap out some mining equipment for rigs used to run and train AI systems, as AI companies require a massive amount of energy for training their models.
Major Bitcoin miners believe AI training could provide a safer revenue source than the volatile crypto industry, leading to increased market cap and investor interest in bitcoin mining companies.
The success of AI models like ChatGPT has driven the demand for immense computing power, which was not previously seen as a worthwhile investment but has now become essential for AI companies to stay competitive.
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