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Bitcoin miners turning to AI? This calculation might not be that easy.
[Coin World] Amazon has just thrown out the card of Trainium 3 - achieving a fourfold increase in training speed at the same power consumption. In this AI chip battle, Nvidia and Google are both holding back their big moves.
Interestingly, on the other side, Bitcoin miners like Core Scientific and IREN are busy transforming their mining facilities into AI data centers. Power? Yes. Space? Ready-made. It seems like a way out.
But analysts poured cold water on it: transformation requires a lot of money, and many companies are borrowing. What if the demand for AI is not that strong? Debt pressure and discrepancies in market expectations could cause these miners and related tokens to suffer as well. Transformation is a way out, but it could also be a trap.