Bitcoin Miner Riot Platforms Just Signed a $9 Billion Compute Deal With Anthropic. Why AI Is Now the Key to Valuing Bitcoin Mining Stocks.
Several Bitcoin-mining stocks have transitioned to data centers specifically for artificial intelligence compute.
Overview
As the crypto winter marches on, Bitcoin has now plummeted nearly 28% this year. This has been particularly difficult for companies like Bitcoin miners that are valued based on their Bitcoin holdings.
Luckily, however, Bitcoin mining is made possible through powerful data centers that use high-speed computers to solve cryptographic puzzles to earn and mine new Bitcoins. Data centers are also fueling the artificial intelligence (AI) revolution.
Details
As crypto continues to struggle, some Bitcoin mining companies have retrofitted their facilities to power AI. Riot Platforms (NASDAQ: RIOT) just entered into a $9 billion agreement to provide AI compute to Anthropic. Here's why AI is key to valuing crypto-mining companies.
Source
Originally published at www.fool.com.
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