The small storm that shook the large owners of mining farms had multiple repercussions. If with the notable drop in performance has led to a massive resale of some equipment, some did not get rid of their computing power completely. We find these capacities used for completely different tasks and still allowing ex-miners to earn money by providing their services for tasks related to artificial intelligence (AI).
Lucky miners: from cryptos to AI the move that saves.
So big mining companies like Hive Blockchain and Hut 8 Mining have found themselves selling high-performance computing (HPC) services to the burgeoning Artificial Intelligence industry. In an interview with Bloomberg reporters, for example, Hive Blockchain officials said they expect to make $10 million in revenue from HPC activities by 2024 and double that number the following year. Those who have been following the mining craze closely will recall that in early 2021, the company invested $66 million in graphics processors, hoping to reap the benefits of mining crypto-currency industrially. Hut 8 Mining has also invested heavily in GPUs for mining and seems to be even happier by making money again very quickly, since in 2022 the company made almost $17 million in revenue from this activity. So obviously, these two examples are probably exceptions. But this quick conversion could still make us smile a little (yellow?).
