Bitcoin miners pivot to HPC: Bitzero raises $25M to expand into high-margin data centers

Key Points

1. Bitzero secured $25 million in funding to acquire 2,900 Bitmain S21 Pro miners, with deployment expected in the next four to six months, projected to generate $10 million in additional revenue.

2. The company has been expanding its zero-carbon mining initiatives since 2022 and is now focusing on HPC to diversify its operations.

3. Other Bitcoin miners, such as Bitfarms and Hive Digital Technologies, are also transitioning into HPC and AI data centers, with Hive projecting its HPC segment to reach $100 million in revenue by 2026.

4. Bitcoin mining profitability has faced increasing pressure due to halving events, prompting miners to explore alternative high-margin opportunities like HPC and AI.

5. The rapid growth in AI demand has created opportunities for miners to repurpose GPUs for AI training and high-performance computing.