BTC miners have to look for ways to diversify
Although bitcoin mining is the key source of income for miners, there are other ways to make money. With BTC far from its peak, large mining companies are looking for alternative ways to make money.
In particular, Applied Blockchain has announced plans to change its name to let its partners know that it is ready to expand into the digital sphere. The company's new name is Applied Digital. So far, shareholders haven/t already confirmed this decision, but updates have appeared on the website.
The company has identified image processing, AI, and machine learning as new focus areas.
HUT 8 Mining is directing its efforts not only to BTC mining but also to invest in digital gold. A notice has been sent to the SEC stating its intention not to sell the BTC that was mined in September.
At the same time, HUT 8 Mining also plans to use its technology base to provide AI and imaging services. In addition, major players in the digital currency mining market are investing in hardware, expecting its price to go up along with the value of bitcoins.