According to PANews, Fred Thiel, CEO of Bitcoin mining company MARA, warned that the current AI development environment is similar to the Internet bubble in the 2000s, and many companies may over-build infrastructure in the absence of sufficient demand.

However, he believes that successful Bitcoin miners will integrate AI components in the long term, leveraging low-cost energy to power AI data centers.

MARA plans to expand its bitcoin mining capabilities while acquiring custom chip technology through a partnership with Auradine, and hopes that 50% of its revenue will come from non-bitcoin mining businesses within the next four years.