The rapid rise in popularity of generative neural networks like ChatGPT has opened up new opportunities for cryptocurrency mining companies. A prime example of such activity is Spanish company Satoshi Spain, which sold and rented mining equipment during the cryptocurrency boom and recently helped its clients repurpose equipment for AI needs.
“You can still make money with your mining hardware. This is mining 2.0″, – says the founder of Satoshi Spain Alejandro Ibanez de Pedro (Alejandro Ibanez de Pedro). The company’s equipment is currently being used to train AI algorithms for various startups and universities in Europe.
Satoshi Spain is not the only one in the cryptocurrency market who has noticed the rapid rise in popularity of AI algorithms, which require powerful graphics accelerators to train. Demand for high-performance GPUs has increased thanks to the success of OpenAI’s ChatGPT chatbot. Amid a lull in the cryptocurrency mining segment, some companies are repurposing their digital asset mining equipment for the needs of AI algorithms.
After the way of mining cryptocurrency Ethereum changed, millions of graphics accelerators were no longer used to mine digital assets. The ability to reuse hardware to train AI algorithms opens up new opportunities for mining companies to reap the benefits.