Data Center News

Riot Platforms sees Bitcoin mining as a “means to an end,” planning to pivot its power resources to build a 1-gigawatt AI data center campus.

The latest push follows TeraWulf’s earlier $3 billion financing effort with Morgan Stanley and Google’s $1.4 billion backstop, plus a $3.7 billion hosting deal with Fluidstack.

AI compute remains centralized in developed nations. Decentralized blockchain networks can unlock idle GPUs to democratize access.

Mike Novogratz’s Galaxy Digital has secured a $460 million investment to convert its former Bitcoin mining site in Texas into a large-scale AI data center.

Bitdeer boosts self-mining to stay competitive amid weak demand for rigs, joining other hardware makers turning to in-house Bitcoin operations.

TeraWulf is reportedly planning $3 billion in funding through Morgan Stanley with Google’s backstop as the mining firm pivots to AI.

Google has acquired a 5.4% stake in Bitcoin miner Cipher Mining by backstopping $1.4 billion of Fluidstack’s obligations in a $3 billion, 10-year AI data center deal.

Cipher, Terawulf, Iris Energy, Hive and Bitfarms rallied sharply in September, outpacing Bitcoin despite tightening mining economics and weaker onchain activity.

TeraWulf’s chief strategy officer, Kerri Langlais, said Google has become its largest shareholder, providing “powerful validation” from a leading tech giant.

While crypto chases AI token hype, smart money invests in compute infrastructure. Like the gold rush, those who own the rails — not the miners — get rich.

The Bitcoin miner’s pivot into AI infrastructure hosting includes a decade-long colocation agreement with Fluidstack, backed by Alphabet’s Google.

MARA Holding’s expansion into AI and high-performance computing is expected to close in Q4, and comes amid a steep rise in Bitcoin mining difficulty.

OpenAI expands Stargate with Oracle to surpass 5 GW of AI power, while Elon Musk outlines plans for xAI to deploy 50 million H100-scale units in 5 years.

Poseidon secures $15 million led by a16z Crypto to build a decentralized, IP-cleared data pipeline for AI training.

Ignoring the reduced customer acquisition costs made possible by AI places businesses at a significant disadvantage, O'Leary said.