Bitcoin miners are exploring new business directions ahead of the halving of the block reward from 6.25 BTC to 3.125 BTC. The Block reports, citing a JPMorgan report.<\/p>\n
Analysts believe it could be profitable for miners to offer computing services in the rapidly developing artificial intelligence market.<\/p>\n
After the transition<\/a> of the Ethereum network to the Proof-of-Stake<\/a> consensus algorithm, a large supply of graphics processing units appeared on the secondary market, according to experts. In their view, former miners of the second-largest cryptocurrency by market cap will also turn their attention to the AI sector.<\/p>\n \n\u201cWith the rapid growth of AI, heightened demand for high-performance computing opens a new and perhaps more profitable way to use GPUs previously employed in Ethereum mining,\u201d JPMorgan wrote.<\/cite><\/p><\/blockquote>\n The report notes that tests conducted by miners to provide computing power showed high profitability \u2014 higher than Bitcoin mining.<\/p>\n Experts noted that industry players are also diversifying by region and have turned their attention to Russia, with its cold climate and surplus electricity.<\/p>\n Earlier, JPMorgan analysts called the Bitcoin halving a stress test for miners<\/a> due to lower block rewards and rising costs.<\/p>\n