Canadian Bitcoin Miner Bitfarms Consider Switching To AI Data Center

Illustration of crypto mining from Bitfarms (photo: x @Bitfarms_io)

JAKARTA The Toronto-based bitcoin mining company Bitfarms has appointed two consultants to explore the possibility of transforming some of its facilities into artificial intelligence (AI) data centers to meet growing demand, it was announced on Friday, January 31.

Crypto miners generally have large land and large electrical resources that are also important for high-performance computing (HPC) and AI data centers.

To take advantage of the AI industrial explosion, many miners have begun to divert some of their operations into data centers, given they already have adequate infrastructure.

However, critics warn that this switch may not be easy as AI data centers have a higher complexity level compared to crypto mining operations.

Bitfarms stated that Appleby Strategy Group and World Wide Technology consultants will analyze the location of company facilities in North America. They will also provide advice on computing strategies and AI as well as market the facility to potential customers.

Earlier this month, Riot Platforms also conducted a review of the potential use of AI and computing in their facilities in Navarro County, Texas.

"The contracts associated with HPC/AI customers provide long-term cash flow and stable income, while our bitcoin mining operations will continue to monetize the potential for a flexible increase in bitcoin," said Bitfarms CEO Ben Gagnon, quoted by VOI from Reuters.