AI is currently demand driven due to shortage, whereas Bitcoin mining is mostly supply driven. If all these corporate mining farms are going to sell their ASICs, it means buying oppty though, so all it does is short-term fluctuation.

This whole thing about converting Bitcoin farms into AI data centers isn't new to me either. And honestly, it brings up some real questions about the future of mining. Maybe it's nothing, I hope this doesn't become a big trend. But this move by Galaxy must be a strategic play, since they're just chasing the money (AI 'bubble').

0xbitcoiner

Are there still many coins that are GPU-mined?

south_korea_ln

Galaxy raises $460 million in push to transform Texas BTC site into AI data hub

I heard this from an ASIC developer post miner conference in 2023 over drinks. They were apparently making 2x profit on renting out their generic GPU farms vs what they made on block rewards, back then.