Artificial intelligence (AI) and machine learning (ML) require massive computing resources as interest in the field continues to grow, but traditional Bitcoin (BTC) miners have yet to catch up.
Heatbit founder Alex Busarov told Cointelegraph reporter Joe Hall at the 2023 Internet Summit in Lisbon, Portugal, that he believes that mines, data centers and small computing power providers understand Bitcoin mining far more than the emerging artificial intelligence industry. Intelligence and machine learning infrastructure areas.
“The reason is that when people talk about artificial intelligence, that’s usually the practical application aspect of artificial intelligence; it can speak for you, or it can create your voice or whatever, but people don’t really think about the computational aspect of artificial intelligence,” Busarov explained.
Busarov’s Heatbit company has pioneered heating hardware that can simultaneously mine Bitcoin and generate heat to warm a home. The Bitcoin Mining Heater comes with a circuit board capable of mining BTC and used for artificial intelligence training and computing resources.
Related: “107,000 GPUs on waitlist” – Io.net beta launch attracts data centers, GPU clusters
Web Summit, which has attracted more than 70,000 people annually to Lisbon in recent years, has provided Busarov with an opportunity to expand Heatbit’s initial BTC-centric focus into its ability to be used as an artificial intelligence training resource.
Part of the company’s marketing strategy is to address negative perceptions of Bitcoin mining energy use.
While acknowledging that BTC heaters have played a role in innovating Bitcoin mining by making them an auxiliary heating source in cold climates, Busarov believes that as the industry continues to demand hardware resources, artificial intelligence computing may It doesn’t take long for similar negative perceptions to be gained.
“I think AI is going to replace Bitcoin mining very soon, and all the headlines are saying, ‘AI training consumes more energy in this country than this.’ They’re going to need equipment like ours, just equipped with Artificial intelligence training chip.”
Heatbit’s hardware can already meet the needs of providing AI and ML resources. Nonetheless, Busarov also believes that the broader GPU and ASIC infrastructure ecosystem may not necessarily abandon Bitcoin and cryptocurrency mining efforts.
“I think what impressed people was actually Bitcoin mining. I think they actually understood Bitcoin mining calculations better than AI training calculations.”
The founder of Heatbit also believes that home mining may become more feasible again in the future, given that the level of hardware precision involved in large-scale mining means that competition comes down to energy costs:
“Who has the cheapest energy costs? Well, it’s the person who doesn’t have to pay an energy bill.”
Busarov said combining mining with additional features such as heating and cooling could make the energy cost of mining itself zero.
“That’s why I think for economic reasons, with applications like ours, it’s going to come back to home mining.”
As Cointelegraph recently reported, demand for artificial intelligence computing resources is rising. Innovative startups like io.net are leveraging blockchain solutions to power networks that source GPU computing power from geographically dispersed data centers, cryptocurrency miners, and decentralized storage providers , providing power for machine learning and artificial intelligence operations.
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