According to The Block, JPMorgan analysts led by Nikolaos Panigirtzoglou wrote in a report on Thursday that cryptocurrency miners are now providing high-performance computing services for the rapidly growing artificial intelligence market, which may bring them profitability. They added that their diversified investments in the artificial intelligence market have been achieved at least in part by selling new or previously acquired Bitcoin in recent quarters.
JPMorgan said bitcoin miners are exploring new business avenues ahead of the upcoming halving event, which will reduce their rewards while increasing competition from rising computing power.
