Riot Platforms’ December sales of 1,818 Bitcoins were valued at $161.6m, with an average net cost of $88,870. The company is shifting its focus from Bitcoin to the monetization of their power and datacenter infrastructure. They also support artificial intelligence workloads. said Tuesday.
The company had 18,005 Bitcoins as of December 31.BTC(including 3,977 BTC restricted, down from 19368 BTC at the end November. 460 BTC were produced during the month.
According to the regulatory authorities, restricted Bitcoin is BTC owned by a company but pledged to secure its debt and held in segregated custody accounts. filings.
Riot said that the December report would be the final production and operation update for the year, as it will now shift to quarterly reports focusing on the overall performance of the business, the data center strategy, progress and Bitcoin mining.
The company stated that Bitcoin mining is illegal in October. no longer its end goalThe company outlined plans for repurposing its existing power infrastructure in order to accommodate a campus of AI data centers with a 1 gigawatt capacity.
According to data from Bitcointreasuries.net, Riot ranks Seventh among publically listed companies in terms of Bitcoin holdings
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Technology companies that specialize in AI and technology deepen their ties with Bitcoin mining
The cost to mine Bitcoins has increased following the April 2024 halvingMiners are increasingly looking for ways to earn additional income. Artificial Intelligence Computing has attracted a lot of attention.
Bitcoin mining companies operate data centers with high energy density and vast power infrastructure. This sector is increasingly attracting the attention of AI and tech companies looking for electricity and computing resources.
In August, Google became the largest shareholder of TeraWulf, holding about 14% of outstanding shares, after expanding a financial backstop tied to the miner. The backstop supports a 10-year colocation lease with Fluidstack, under which TeraWulf will supply data center capacity for artificial intelligence workloads.
One month on, Google acquired a 5.4% stake in Cipher Mining Fluidstack has signed an agreement with Google to rent computing power from Cipher for a period of 10 years. Google is guaranteeing Fluidstack $1.4billion of its obligations.
IREN and the United States signed an agreement in November for a 5 year, $9.7 billion GPU cloud services agreement Microsoft will host Nvidia GB300 graphics cards in its datacenters. Dell Technologies announced the $5,8 billion agreement with the largest Bitcoin miner based on market capital to purchase GPUs to help support this deployment.
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Source: cointelegraph.com
