Bitcoin miners are expanding into new business areas, such as offering high-performance computing services to the artificial intelligence (AI) market, in order to reduce their reliance on cryptocurrencies, according to a report by JPMorgan. The report also highlights that some miners have sold their GPUs to recoup their investments, while others have repurposed their PCs for gaming and mining alternative cryptocurrencies. Additionally, the report mentions that Bitcoin miners are looking to expand geographically, with Russia emerging as a global leader in terms of bitcoin mining electricity consumption. However, individual miners with lower hashing power are at a disadvantage compared to larger mining pools. The report also mentions a lucky miner who recently earned a 6.25 Bitcoin reward. Overall, the cryptocurrency market is down, and miners are exploring new avenues to remain profitable.
AI Sentiment: Negative
