Bitcoin miners repurpose infrastructure to profit from AI computing power demand
Bitcoin miners who repurpose their infrastructure for high-performance computing (HPC) that underpins AI operations stand to profit handsomely. Core Scientific, one of the largest publicly traded bitcoin miners, has announced an increase in computing capacity for HPC infrastructure, which could generate $3.5 billion of revenue over the life of a 12-year contract. The company's stock surged nearly 10% to $9.57 following the announcement. Core Scientific was able to exit bankruptcy in January after a recovery in cryptocurrency prices allowed it to trim $400 million of debt by giving creditors equity in the reorganized company.
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