The latest halving event in the Bitcoin network has led to a significant reduction in the issuance of new bitcoins, cutting the rewards for miners in half. In response to this, many Bitcoin miners have diversified their business models and upgraded their facilities to brace for the anticipated cut in revenues.
One notable strategy adopted by these miners is the integration of artificial intelligence (AI) into their operations. Some mining firms have diversified into supporting the underlying infrastructure necessary for AI, leveraging the power of their existing hardware for more than just mining.
The halving event, which occurs roughly every four years, has historically led to a major run-up in the price of Bitcoin. This price increase often helps miners offset the impact of having their block rewards cut in half. However, the diversification into AI indicates a proactive approach by miners to mitigate the effects of halving and ensure the sustainability of their operations.
Read more at: www.cnbc.com