Hut 8 CEO Asher Genoot recently announced commercial agreements for a new AI vertical under a GPU-as-a-service model. Core Scientific emerged from bankruptcy in January, with B. Riley upgrading its stock rating and raising its price target. CoreWeave offered to buy Core Scientific for $1.02 billion, but the offer was rejected. Crusoe’s technology helps oil companies convert waste energy into a resource for bitcoin mining. Lancium, focusing on AI infrastructure, patented technology that allows energy demand to be adjusted quickly, benefiting the grid with renewable energy sources. TeraWulf uses nuclear energy to power mining sites and is looking to expand into machine learning. OpenAI CEO Sam Altman supports nuclear energy as a key component in meeting the energy needs of AI workloads. The shift towards AI data centers optimized for energy availability, cost, and environmental friendliness points to a larger opportunity for the industry. In the next couple of years, publicly traded bitcoin miners plan to double power capacity, potentially increasing the energy consumption of data centers up to 9% of the country’s total electricity consumption by 2030. The growing demand for data centers has raised interest in tapping into nuclear energy as a reliable power source to meet this surge.
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