Hut 8 CEO Asher Genoot recently announced that the company has finalized commercial agreements for their new AI vertical under a GPU-as-a-service model, including a customer agreement with fixed infrastructure payments and revenue sharing. Core Scientific, which recently emerged from bankruptcy, has been successful in pivoting to AI, resulting in B. Riley upgrading its stock to buy and raising its price target on the shares. CoreWeave, an Nvidia-backed startup, offered to buy Core Scientific for $1.02 billion, but the bid was rejected. Crusoe, known for its work in bitcoin mining, helps oil companies turn wasted energy into a useful resource, and is now focusing on AI infrastructure. Lancium, a company specializing in power orchestration technology, is set to go live with a mega-scale AI data center in Abilene in 2025, drawing primarily from renewable energy sources. TeraWulf, which powers its mining sites with nuclear energy, is also looking to get into machine learning. The Electric Power Research Institute estimates that data centers could consume up to 9% of the country’s total electricity consumption by 2030, with nuclear energy seen as a solution. OpenAI CEO Sam Altman believes nuclear energy is crucial for meeting the energy needs of AI workloads. These companies are working towards building more sustainable and efficient energy infrastructures to support the growing demand for AI and data centers.
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