Part 7/12:
- Firms like Riot now see Bitcoin mining as merely a means to an end—maximizing utility of their existing megawatt capacity—rather than a core objective.
Additionally, major tech giants are entering the scene, seeking GPU capacity from miners. Notably:
Google increased its stake in AI-focused miner Terowolf to 14% in August.
Terowolf announced a $3 billion raise in September aimed at expanding AI data centers.
However, hardware incompatibility is an obstacle; ASIC miners are tailored solely for hash computations, while AI demands the flexibility of GPUs and TPUs. As a result, some companies are approaching AI as a side hustle rather than a total pivot.