As the interest in artificial intelligence (AI) surges, Iris Energy aims to rediscover hosting high-performance computing alongside bitcoin miners, according to a recent press release. Several miners have already expanded into different computing types, including Applied Digital Corporation, Crusoe Energy, and Hut 8 Mining. AI-driven data center space is predicted to grow to $76 billion by 2028, considering the increasing popularity of large language models such as OpenAI’s ChatGPT.
Iris Energy plans to boost its data center capacity to 9.1 exahash/second (EH/s) by early 2024, up from the present 5.6 EH/s. The company has previously invested in the development of high-performance computing solutions, including signing a strategic memorandum of understanding with Dell Technologies in March 2020. This collaboration focuses on the testing and development of potential data center solutions for energy-intensive compute applications, taking advantage of Dell Technologies’ HPC and AI expertise.
Given the recent advancements in the sector, Iris Energy believes that now may be the perfect moment for them to explore this field further. Their strategy could utilize their current sites or those under construction. The miner has acquired long lead-time items necessary to construct an additional 100-megawatt (MW) facility, capable of increasing its mining hashrate to 13.6 EH/s when filled with mining rigs.
However, while it may seem relatively straightforward for miners with access to cheap energy and data center infrastructure to transition to AI and cloud computing, it’s crucial to consider the differing requirements between cryptocurrency mining and high-performance computing industries. The quality of operations, uptime, and customer service is significantly different when it comes to AI-related compute requirements.
The potential benefits of merging high-performance computing services with bitcoin mining activities are appealing and could pave the way for new business opportunities within the industry. However, this undertaking comes with several potential challenges to overcome, particularly when addressing the unique demands of AI computing and providing an effective and reliable service.
In conclusion, as AI continues to make waves in the tech world, Iris Energy’s aspirations of integrating high-performance computing alongside their bitcoin mining operations present interesting prospects for the crypto industry. Regardless of the challenges that may arise throughout this process, significant investments and strategic partnerships demonstrate great potential for the future in effectively combining these tech domains. Ultimately, this merger could open up new horizons for innovation and synergy between the power-intensive fields of AI and cryptocurrencies.
Source: Coindesk
