Major U.S. public Bitcoin miners including Cipher Digital, Bitfarms, and Core Scientific are selling Bitcoin holdings and rebranding to chase AI/HPC leases with hyperscalers like Microsoft and Google, amid industry-wide profitability challenges.
Two major Bitcoin miners, MARA Holdings and Core Scientific, are shifting strategies to sell portions of their bitcoin holdings as they pivot toward AI and high-performance computing operations.
Canaan (CAN) acquired Cipher Mining’s 49% stake in three West Texas mining projects for $39.75 million in shares, giving Cipher a significant equity stake in Canaan.
Texas A&M Professor Korok Ray announced the launch of the Bitcoin Research Institute to explore the integration of Bitcoin and artificial intelligence.