JPMorgan Chase said in a recent research report that Bitcoin miners are entering new business areas, including providing high-performance computing (HPC) services for the fast-growing artificial intelligence (AI) market to reduce dependence on cryptocurrencies.
Part of the cost of the new investment was provided by miners who sold tokens in recent quarters, the report said. Some bitcoin mining companies have changed their names to reflect the diversification, after Hive Blockchain Technologies (HIVE) changed its name to Hive Digital Technologies and Riot Blockchain (RIOT) changed its name to Riot Platforms. In addition, former Ethereum miners have also shown a tendency to provide HPC services. Since the successful upgrade of Ethereum Shanghai, there has been a large supply of graphics processing units (GPUs) sold on the secondary market, and some Ethereum miners have sold GPUs to save their investment , while other Ethereum miners reuse their machines for services such as games, image and video rendering, or choose other POW currencies.
