Bit Digital Aims to Generate $100 Million from AI by End of 2024

Bit Digital, renowned for its large-scale cryptocurrency mining operations, has announced its goal to achieve an annual revenue of $100 million from artificial intelligence (AI) by the end of 2024. The company is actively diversifying its business by investing in AI and high-performance computing (HPC) to capitalize on the growing demand for these technologies.

To reach this ambitious target, Bit Digital plans to increase its installed graphics processing units (GPUs) to 4,000 units, significantly expanding its computational capabilities. In the first half of 2024, the AI business already generated $20.57 million, accounting for nearly 35% of total revenue. This indicates the high potential of this sector and its importance for the company’s future growth.

Bit Digital aims to become a leader in providing AI services, offering solutions for machine learning, big data analytics, and other high-performance computing tasks. The company plans to continue investing in cutting-edge technologies and collaborating with key industry players to strengthen its position in the rapidly expanding AI market.