Bitcoin mining companies are diversifying into AI and high-performance computing (HPC) data centres. While Bitcoin miners can adjust energy consumption quickly, AI and HPC operations require constant, massive energy supply. This high demand poses challenges for utility providers. Bitcoin mining facilities are significantly cheaper to build and run than AI/HPC data centres. To meet energy demands, tech giants are turning to nuclear power providers.
Lumen Technologies has secured over £3.5 billion in new AI-related business, focusing on data-centre connectivity. The company partnered with Google Cloud and aims to reduce debt with these deals. Despite a Q3 net loss, Lumen increased its full-year free cash flow forecast. The company's stock value has surged by over 450% in the past year due to its AI initiatives.
