Crypto Miners May Shift Focus Towards AI After Bitcoin Halving

According to BlockBeats, a report published by CoinShares on April 22 suggests that cryptocurrency miners could move into the Artificial Intelligence (AI) sector following the Bitcoin halving. The halving event is expected to significantly increase costs for miners, as electricity and overall production costs will almost double. Miners could try to mitigate these higher costs by optimizing energy costs, improving mining efficiency, and purchasing more cost-effective hardware. However, the potential benefits of redirecting outdated computing power to the AI ​​sector could be greater.

CoinShares noted that mining companies such as BitDigital (BTBT), Hive (HIVE), and Hut 8 (HUT) have already started generating revenue from the AI ​​sector. Meanwhile, TeraWulf (WULF) and Core Scientific (CORZ) already have AI operations or plan to develop in this field. The shift to AI could provide a new avenue for these companies to maintain profitability in the face of the rising costs associated with cryptocurrency mining.