Fred Thiel, CEO of Marathon Digital, one of many world's largest Bitcoin (BTC) mining firms, made vital feedback on his broadcast about the way forward for the business, the power warfare between Bitcoin and synthetic intelligence (AI), and main modifications within the mining world.
Fred Thiel, one of many main figures within the Bitcoin mining and information heart infrastructure business, has painted a formidable image of the way forward for Bitcoin. The following huge transfer available in the market is not going to solely be pushed by worth, but in addition by power and computing energy, Thiel mentioned.
Thiel famous that entry to power is changing into more and more tough, particularly in the USA. The CEO added that huge demand from the AI sector is reworking the power market, and mentioned giant information heart operators generally known as “hyperscalers” are vying for land already on the grid. “Time is changing into extra vital than value. Firms can't wait till 2029 to run GPUs. They want power now,” Thiel mentioned, emphasizing the growing worth of getting access to power capability.
Thiel additionally touched on the price of Bitcoin mining gear, explaining that {hardware} costs are at historic lows. He mentioned prices peaked at $80 to $100 per TeraHash in 2021, however have now come right down to $8 to $9 as a consequence of innovation and oversupply. He added that whereas this can be a nice alternative for firms wanting so as to add new manufacturing capability, it’s going to squeeze revenue margins for miners with excessive power prices.
In response to an investor's query, “Will the safety of the Bitcoin community be in danger if miners change to AI?”, Thiel mentioned that the Bitcoin blockchain community is at present greater than safe and that altering the hash fee poses no danger to the community.
*This isn’t funding recommendation.
