Empire Newsletter: Bitcoin miners turn to AI for a boost

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Power grab

To paraphrase Tony Montana: In crypto mining, first you get the power, then you get the Antminers, then you get the bitcoin.

AI has flipped all of that on its head. Tech companies fueled with loads of cash — including OpenAI, Meta, Microsoft and Google — are competing to snatch up as much land and as many data centers as possible. 

If training AI models is a gold rush, juicy gigawatts are the shovels. So for bitcoin miners, as well as former Ethereum miners still sitting on stores of GPUs, the Scarface roadmap to success now…

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