cryptomeetsai

Kalshi, the prediction market platform, has raised $300 million in a round backed by Sequoia, Andreessen Horowitz, Paradigm, and Coinbase Ventures. The new funding pushes its valuation to $5 billion and supports its global expansion to more than 140 countries. The company is positioning itself where regulated finance meets event-based trading.

Meanwhile, Bitcoin mining firms are finding new purpose in the AI boom. Analysts say their existing energy capacity and infrastructure give them a strong advantage in building data centers and compute networks to support AI workloads.

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Kalshi’s Global Ambitions

Kalshi has gone international, opening access to users in over 140 countries. The company expects to hit $50 billion in annualized trading volume, up from $300 million just a year ago. It’s also claimed a 60% global market share, outpacing competitors like Polymarket.

Still, expanding worldwide brings regulatory hurdles. Prediction markets often blur the line between financial products and betting, and Kalshi will have to tread carefully as it navigates compliance in new markets.

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Why Bitcoin Miners Are Turning to AI

Bitcoin miners have long managed large-scale infrastructure built for power, cooling, and connectivity. Now, that same foundation is being used to fuel AI operations.

1. Power advantage
Miners already control over 14 gigawatts of grid-connected energy, much of it tied to renewable sources. This gives them a head start over data center developers who often face long waits for new power connections.

2. Better returns on energy
Running AI workloads can generate two to four times more revenue per kilowatt-hour than Bitcoin mining, making the switch economically appealing.

3. Shifting business models
Companies like Iren and Bitfarms are leading the way. Iren is converting parts of its mining infrastructure into AI cloud operations, while Bitfarms has redirected debt facilities to fund AI projects. Across the sector, miners are rebranding, acquiring GPU farms, and offering AI services to diversify revenue streams.

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Looking Ahead

Crypto and compute are converging. The line between miners and data center operators is fading, creating a new class of hybrid infrastructure companies.

Regulation and energy use will be key. As these operations grow, expect more scrutiny around power consumption, grid impact, and environmental footprint.

Capital will decide the winners. Both AI and crypto require massive investment. The firms that can raise funds and manage resources efficiently will come out ahead.

New competitors are coming. Traditional cloud providers may soon partner with—or compete against—miners evolving into AI infrastructure players.

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