Web3
August 19, 2024 8:28 PM
Bernstein analysts report that investors are increasingly interested in Bitcoin miners shifting to artificial intelligence (AI) and high-performance computing (HPC) data centers.
Some investors are questioning whether all miners should make this move.
The "Mullet" strategy involves AI data centers on the front end and Bitcoin mining on the back end.
The mining landscape is split between Bitcoin-focused miners and those exploring AI.
Despite similarities in power needs, Bitcoin mining and AI centers have different business models.
Bitcoin miners focus on converting electricity into Bitcoin at low costs, aiming for increased production and market share without selling at a loss.
Leading miners are advised to maintain focus on Bitcoin market share and hash rate growth.
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