In March, the AI Data Center Company CoreWeave went to the public and its share price in a quadruple at the wider boom for artificial intelligence. But AI was not always the company’s focus. It started in 2016 as a specialist for crypto mining – a term for the use of computers to process transactions and secure the network of cryptocurrency. In the midst of cryptos volatile heights and depths, CoreWeave is relocated to business on AI in 2019.
Now CoreWeave has helped another crypto mining company fully. The company on Monday announced His plans to acquire core scientists, a listed trade Bitcoin Bergmann. The acquisition, which, according to CoreWeave, is expected to close in the fourth quarter, was an all-floor deal for around $ 9 billion.
The deal follows for months between CoreWeaven and Core Scientific, in which the AI company paid the Bitcoin Miner for an ever increasing proportion of its processing performance. And it happens that the Bitcoin mining has become less profitable Due to the increased competition and reduced margins.
In the middle of the tightening sector, other Bitcoin mining processes have also awarded their data warehouses to AI companies, for the large amounts of computing power for tasks such as training of large language models. Nevertheless, the pivot of Core Scientific underlines the increasingly clearer roadmap for Bitcoin mountain people: Storage who are reserved for Bitcoin mining servers once reserved for AI. “It increases the thesis that there is probably a lack of power” AssetsWith regard to the hunger of the AI companies for computing power.
Bitcoin to Ai
Bitcoin mountain people are essentially. They build large warehouses to accommodate thousands of computers to support the Bitcoin network. In the meantime, up to 20% of global data center demand comes from artificial intelligence, after On recent research in the academic journal Joule. And about 40% of the existing AI data centers reach their performance limits in 2027. predicted The analytics company Gardener.
This hunger for power has AI specialists like CoreWeave to expand its computer fleets in order to take into account increasing demand. “The only place where you can get electricity and size are the miners,” said Knoblauch.
Core Scientific is not the only Bitcoin -Bergmann who shifted to AI. In 2023, Hive -Blockchain technologies changed its name in Hive Digital Technologies and said It was planned to use some of his computers for AI. In December Terawulf beaten A deal with Core42. And in April, the Krypto company Galaxy, who has a Bitcoin mining department, said It was planned to work with CoreWeave.
“Pivoting to HPC Compute was a central topic under BTC mountain people with strong energy capacity sports folios,” said Brian Dobson, analyst in Clear Street, too Assets. (HPC refers to high-performance computing, a catch-all term containing AI.)
Larger data center providers, including Hyperskallers, like AmazonPresent GoogleAnd MicrosoftKnoblauch, the Cantor Fitzgerald -Analyst, said not similar offers with a Bitcoin -Bergmann. “The only one who was super aggressive and recorded the capacity is CoreWeave,” he added.
Hyperskallers tend to carry out due diligence for their providers over longer periods of time, as quicker starts like CoreWeave, he said. And companies like Google or Amazon may be skeptical about the ability of Bitcoin -Miner to convert their simpler facilities into more sophisticated AI calculus centers, he added. After CoreWeave, one of the few companies that go into the miners, has committed themselves to Core Scientific, it may be more difficult for Bitcoin mining operations to replicate the success of Core Scientific.
Nevertheless, garlic is optimistic that miners who have built up and used companies with cheap electricity for the power supply of servers can still drive with the energy-intensive AI boom. “In this respect, miners are relatively unique when they are experts when it comes to power,” he said. “And you have a lot of it.”
