When Bitcoin Miners Become AI Whisperers: A Tale of Irony and Ambition

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What to know:

  • In a world where Bitcoin miners, once the titans of digital gold, now seek solace in the arms of artificial intelligence, RIOT has announced new board appointments. Ah, the irony! 🤖💰
  • As the once-lucrative Bitcoin mining wanes, many BTC miners are now turning to AI servers, hoping to find a new fountain of revenue. Who knew mining could be so… versatile? 😂

In a curious twist of fate, the Bitcoin (BTC) miner known as Riot Platforms has appointed three new directors to its board, embarking on a journey into the enigmatic realms of artificial intelligence (AI) and high-performance computing (HPC). One can only wonder if they will find enlightenment or merely more confusion. 🤔

Among the newly appointed is Michael Turner, a man of stature, formerly the president of Oxford Properties and the global head of real estate at OMERS, one of Canada’s largest pension funds. Alongside him, Jaime Leverton, the ex-CEO of Hut 8 Mining (HUT), and Doug Mouton, a veteran of data center development from the illustrious halls of Microsoft and Meta. A veritable council of wisdom, or perhaps just a gathering of lost souls? 😅

These appointments come as Riot contemplates the repurposing of its mining infrastructure, particularly its Corsicana Facility in Texas, for the lofty ambitions of AI workloads. Investment banks Evercore and Northland Capital Markets have been summoned to assist in this grand transition. Will they succeed, or will it all end in a tragic farce? 🎭

Riot’s audacious move follows a broader industry trend, as miners, like desperate sailors in a storm, seek new revenue streams amid the rising tides of energy costs and the diminishing rewards of mining after the recent Bitcoin halving. A tale as old as time, yet somehow still amusing! 😂

CoinDesk, in its infinite wisdom, reported in October that Core Scientific (CORZ), one of RIOT’s rivals, has been building AI-focused infrastructure since 2019. Ah, the race is on! May the best miner win, or at least find a decent side hustle! 🏃‍♂️💨

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2025-02-13 10:12