By Hassan Mehmood (Saudi Arabia)
Amazon Web Services or AWS is one of the biggest cloud services providers in the world. Recently the firm has decided to venture into the world of generative AI with an allocation of $100 million in development funds.
The cloud computation firm will be looking to offer financial aid to AI-based businesses that are venturing into this arena. The program has been dubbed AWS Generative AI Innovation Center.
This program will enable the creation of a connection between the data scientists, engineers, and architects who are dealing with consumers and partners. Meanwhile, Amazon is also aiming to work on supplementing the progress of generative AI models.
In the current year, various open-sourced generative AI programs such as ChatGPT and Midjourney have gained mass popularity.
Hut 8 and US Bitcoin Corp are two big players in the Bitcoin hashrate industry. Both firms are reportedly in the process of forging a joint operation. If the merger goes smoothly, the resulting entity will become the biggest hash rate contributor in the North American territory.
Hut 8 is a US-based company with an estimated market cap of $990 million and an equal public equity distribution after the merger is completed. The accumulated hash rate is estimated to be around 7.5 EH/s as per The MinerMag.
However, at present the biggest hash rate contributor continues to be Marathon Digital, or MARA which is dominating the sector with 23 EH/s. However, once the merger is completed the hashrate can rise as big as 10.5 EH/s capacity. During the prolonged Crypto winters, many miners had to close their doors while some resorted to selling larger amounts of Bitcoins that they were minting.
Also read:Wolfie Zhao, an analyst at TheMinerMag has told the media that Hut 8 is doing well with 10K Bitcoins still present on its balance sheet. Meanwhile, Marathon Digital holds around 12,232 Bitcoins as its current holdings.
JP Morgan Report Claims that Bitcoin Miners Need Lower Energy Costs to Survive
A new report by a JP Morgan analyst has declared that Bitcoin miners who are working with a mixture of sustainable and traditional energy resources will be able to survive. The firm also claimed that only low-energy accessing miners will continue to remain operational in the competitive environment of crypto mining.
The bank also noted that electricity prices have continued to reduce within the US territory where the majority of the mining companies are based.
An analyst named Nikolaos Panigirtzoglou has maintained that the average cost of electricity cost for Bitcoin miners remained at $0.05 per kilowatt hour. However, some of the bigger mining farms were able to get a power bill deal of $0.03/kWh. The analyst also made note of some of the smaller Bitcoin mining companies such as Core Scientific, Iris Energy, and Argo Blockchain.
As per the report these mining companies have been struggling on account of reducing Bitcoin prices, rising energy costs, and increasing debt service cost. The analyst also noted that many mining farms are trying to incorporate cheaper and renewable energy resources to manage Opex.
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