The Prompt: The Crypto Miners Winning The AI Gold Rush

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Rashi Shrivastava is a reporter covering technology with a focus in artificial intelligence. She writes a weekly Forbes newsletter on all things AI called The Prompt. She joined Forbes in January 2022 and is based in Upstate New York.

to catch mistakes in code produced by ChatGPT. As generative AI models advance and their errors become more subtle, models like CriticGPT could help humans train the systems more efficiently by spotting more problems. Like other AI systems, CriticGPT is not fully accurate–but humans that use the tool to train AI outperform others by 60%.

“The demand is insatiable,” says Adam Sullivan, Core Scientific’s CEO. “If we just execute on what is within our current contracted power today, we'd be a top 10 data center company in the United States.” Driven by the AI boom, data centers' energy demand could surge to 9% of U.S. power generation by 2030, according to the Electric Power Research Institute, which is more than double the current usage.

A shift to AI operations for those with available infrastructure and energy capacity offers potentially compelling benefits. By replacing the volatility of bitcoin with more stable revenue from AI computing, miners can benefit from predictable budgets funded by established customers. This also helps miners boost income to be able to afford the high capital investment necessary to stay competitive with new mining equipment, concluded analysts at Morgan Stanley in, the company said.

 

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