Bitcoin miners are embracing artificial intelligence as a potential new revenue opportunity. Core Scientific recently signed a multibillion-dollar AI computing deal with CoreWeave, and is now moving aggressively into AI.
Post-halving, Bitcoin miners see their primary source of revenue cut by one-half. Miners typically sell Bitcoin in order to make up for any revenue shortfall, but some are now looking for ways to diversify operations into AI.
A top holding in bitcoin miners ETFs has announced it will provide additional infrastructure to CoreWeave as part of an existing deal. Core Scientific (CORZ) struck a deal with CoreWeave, the AI Hyperscaler, in early June.
Artificial intelligence (AI) is hungry for computing power, and bitcoin miners willing to repurpose their infrastructure stand to profit handsomely.
Core Scientific (NASDAQ: CORZ ) stock is a hot topic on Thursday after the Bitcoin ( BTC-USD ) mining company rejected a takeover offer from CoreWeave. According to Core Scientific, it received this unsolicited offer from CoreWeave on Monday.
Core Scientific (NASDAQ: CORZ ) stock is climbing today on news that the Bitcoin ( BTC-USD ) mining company may be acquired by CoreWeave in a $1 billion offer. Indeed, CORZ stock is up more than 40% at the time of this writing as investors weigh the all-cash offer.
A company best known for its bitcoin-mining technology is seeing its stock get a huge boost after announcing a deal with a hot private artificial-intelligence company — and there's an Nvidia Corp. link.
CORZ stock is soaring over 30% after the Bitcoin miner announced a new hosting deal with AI hyperscaler CoreWeave.