Tech Companies Are Shifting from Crypto Mining to Generative AI.

Cryptocurrency miners who were once stalwarts in the digital asset mining business are now caught up in a flurry of technological advances and riding on generative AI. Amidst the growing global demand for computing power that will ‘power’ AI, tech companies are shifting their strategy to capitalise on this increasing market.

This is a field that has moved steadily since the introduction of ChatGPT from OpenAI and deep learning. Nvidia, by equating GPUs with precious effective substance for Artificial Intelligence (AI) increases production ten times in a vain attempt to satisfy the cannibalistic hunger for computational energy. On the other hand, Microsoft signs agreements to enable AI functionality leaving behind a tidal wave of technology change.

This transition in the sector is also evidenced by the change of Canadian firm Hive Blockchain into Hive Digital Technologies. Executives such as Frank Holmes highlight the difficulties and opportunities of this transformation, putting a spotlight on how GPU technology played a key role.

However, despite all this enthusiasm, there are still questions about sustainability and environmental issues. Despite the rise of renewable energy as a beacon of hope, concerns remain for consumption levels.

Illustration | Credit: Techopedia
Illustration | Credit: Techopedia

In this transformative period, the future lies in converging crypto with AI and sustainability in tech. By incorporating innovation amid challenges, we will realise the future of technology in its fullness. To learn more, read the full article here.