Riot Taps Adviss to explore the partnerships of artificial intelligence as revenue from Bitcoin miners

On Wednesday, Bitco Mining Companes said it explores partnerships in the artificial intelligence sector and the high -performance computing sector as it aims to enhance its business and generate sustainable revenue flows.

The company listed on the Nasdaq Stock Exchange said it will increase the potential artificial intelligence assessments and HPC at the Corsicana facility in Navarro Province, Texas, noting that interest increases from potential multiple partners.

RIOT exploration of computing capabilities reflects the increasing trend between Bitcoin miners to take advantage of the basic energy infrastructure and data center experience to obtain additional revenue opportunities that exceed encryption mining.

The move comes at a time when the difficulty of mining on the Bitcoin network reached the highest historical level, as it reached its climax at 114.7 Tehshes when the mass reached 883,502 on February 10, Data From Coinwarz offers.

The “confluence” of the indicators on the series indicates that miners suffer from more financial stress than before, which led them to find new sources of revenue Decode encryption.

Meanwhile, the revenues of Bitcoin mining devices have decreased significantly throughout the year, to less than $ 10.4 per day on the 60 % operating margin of the ASIC medium unit such as Antminer S21+ Hydro, according to Data From the index of signs.

Besides artificial intelligence exploration, RIOT has appointed three new managers: HUT 8 CEO of HUT 8 Jaime Leverton, former Meta Engineer Dg Moton, and real estate investment warrior Michael Turner.

“The transition to exploring artificial intelligence and high -performance computing is part of the RIOT initiatives” to increase the value to the maximum “of the” entire root portfolio “, high performance computing is part of the RIOT initiatives,” to increase the value to the maximum “for the” entire root portfolio, “Riot CEO Jacon Les said in a statement.

Similar strategic transformations by other key encryption mining operators. Leveron, who just joined the RIOT board, led its company to HPC by obtaining the work of the data center in the TERAGO.

Companies such as HUT 8 and Core Scientific reused their infrastructure for artificial intelligence burden, and take advantage of current energy access centers and data centers.

These diversification moves also aim to reduce dependence on bitcoin fluctuations while taking advantage of the increasing demand for artificial intelligence computing resources.

However, the company warned that there is no guarantee that its assets are suitable for transforming AI/HPC or that partnerships can be negotiated on favorable conditions.

However, bitcoin mining and other public encryption companies MarketWith the expansion of the maximum of the total market by 14 %, bringing its evaluations to $ 108 billion, according to JPMorgan.

RIOT also runs Bitcoin Mining Facilities in Rockdale, Texas and Kentucky, along with Colorado electrical engineering operations.

Google Finance data shows that the shares of the company, which are trading on the Nasdaq Stock Exchange under RIOT, rose 0.2 % a day to $ 11.16.

Edit Sebastian Senkler