This week, we’re taking a look at a growing trend: cryptomining companies pivoting to the AI and cloud computing game.
In the past 18 months, companies originally formed to fuel cryptocurrency mining operations have begun changing course, looking to stake a claim in the AI market and capitalize on the 21st century’s digital gold rush. CoreWeave is perhaps the best known example of such a shift, though its success could well be an outlier.
There appear to be several factors driving this trend, including a monstrous appetite for more compute and a desperate need for power to fuel data center expansions. As luck would have it, cryptomining companies have both compute and power at their disposal. But the transition may not be as simple as it seems.
Today, we’ll be getting some market context from AvidThink Founder Roy Chua and following up with a deep dive interview with the CEO of one of the crypto players taking the AI leap: Hut 8.
Let’s get the party started.
New this season: We're doing video! If you'd rather watch our conversation, you view this and future episodes on YouTube right here.
To learn more about the topics in this episode:
- Neoclouds ride a runaway revenue growth train to 2030
- Crypto wants to reap the data center growth AI has sown
- CoreWeave CEO: ChatGPT boom added 'rocket fuel' to growth of our niche cloud
- Hut 8 plots development of 4 new sites totaling 1.5 GW
This podcast is written and hosted by Diana Goovaerts. It is edited by Diana Goovaerts and Matt Rickman. Liz Coyne is our executive producer. Special thanks to our guests, Hut 8 CEO Asher Genoot and Roy Chua of AvidThink.