As Bitcoin miners face reduced block rewards ahead of the 2024 halving, many are turning to artificial intelligence (AI) to adapt. Some companies, like Core Scientific, have successfully pivoted, transitioning from Bitcoin mining to AI data center services, securing significant contracts such as a $3.5 billion deal with CoreWeave. Despite a drop in Bitcoin revenue, Core Scientific's stock surged following renewed acquisition talks. Hut 8 launched its GPU-as-a-Service through Highrise AI, deploying over 1,000 Nvidia GPUs, although it reported a quarterly loss. Meanwhile, Iren and Hive are also seeing revenue growth from AI, with Iren deploying 4,300 GPUs and Hive generating $10.1 million from AI hosting. Riot Platforms and MARA Holdings are exploring AI infrastructure, with Riot's mining revenue doubling due to higher Bitcoin prices. In contrast, ASIC manufacturer Canaan is shutting down its AI chip division, focusing solely on mining hardware. This shift highlights the diverse strategies within the Bitcoin mining sector as firms navigate a changing landscape. Read more AI-generated news on: https://app.chaingpt.org/news

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