NEAR Protocol

Cryptocurrency

Artificial Intelligence

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You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/how-artificial-intelligence-is-reshaping-cryptocurrency-mining/" data-wpel-link="internal">How Artificial Intelligence is Reshaping Cryptocurrency Mining</a> 
The world of cryptocurrency has witnessed a substantial increase in the prices of AI-driven altcoins following the fourth block reward halving of <a href="https://coin-turk.com/kripto-para-piyasasina-guncel-bakis-bitcoindeki-konsolidasyon-devam-edecek-mi" data-wpel-link="internal">Bitcoin</a> (<a href="https://coin-turk.com/kripto-paralari-kapsayan-ayi-piyasasi-bitti-mi-iste-veriler" data-wpel-link="internal">BTC</a>), signaling a notable shift in market dynamics. As investor interest grows, focus shifts to the underlying factors of this rally. Amid these developments, a comprehensive report by CoinShares offers valuable insights into the evolving landscape of the cryptocurrency market. 
<h2 style="text-align: justify" id="strong-as-with-all-sectors-the-importance-of-artificial-intelligence-in-mining-is-increasing-strong">As with All Sectors, the Importance of Artificial Intelligence in Mining is Increasing</h2> 
CoinShares‘ latest Mining Report provides a detailed examination of the evolving dynamics in the cryptocurrency mining industry, shedding light on the increasing importance of the AI sector. As investors and miners shift their focus, AI-driven altcoins are emerging as focal points in the crypto ecosystem. The report encourages leading mining companies like BitDigital, Hive, and Hut 8 to explore opportunities in AI, highlighting the potential for increased revenue from energy-efficient locations. 
Despite an expected short-term decline following the block reward halving, CoinShares’ analysis predicts a steady increase in the hashrate, reaching 700 Exahash by 2025. However, this year’s halving is expected to lead to lower hash prices and increased electricity and production costs, posing challenges for miners. In response, mining companies are actively managing their financial obligations and diversifying their revenue streams, particularly focusing on AI initiatives. 
The evolving and changing landscape of AI technology presents intriguing outcomes for the future of <a href="https://en.coin-turk.com/5-different-reasons-for-the-bitcoin-drop-and-what-to-expect-in-crypto/" data-wpel-link="internal">Bitcoin</a> mining. While AI requires specialized and costly infrastructure, its compatibility with energy-efficient locations offers opportunities for revenue diversification in the mining sector. Some mining companies have already begun transitioning to AI projects, significantly contributing to their overall earnings. 
However, the adoption of AI technology introduces natural challenges, including the need for specialized infrastructure and skilled talent, thus creating entry barriers for smaller players in the industry. Despite these barriers, companies like Core Scientific and BitDigital continue to pursue AI initiatives actively due to higher margins and revenue diversification potential. 
<h2 style="text-align: justify" id="strong-ai-altcoins-near-grt-and-rndr-show-strength-strong">AI Altcoins NEAR, GRT, and RNDR Show Strength</h2> 
Current data reflects significant upward movements in major AI altcoins like NEAR Protocol (NEAR), The Graph (GRT), and Render Network (RNDR), mirroring increased investor interest and trading activity. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-343105" src="https://coin-turk.com/wp-content/uploads/2024/04/The-Graph-GRT-Altcoin.jpg" alt="" width="803" height="392"> 
NEAR has shown a 7.36% price increase over the last 24 hours, trading at $6.80, while GRT has risen 6.61% to just over $0.30. Additionally, the price of RNDR has increased by 1.43%, reaching $9.14, indicating ongoing strong interest in the AI sector of the crypto market. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/how-artificial-intelligence-is-reshaping-cryptocurrency-mining/" data-wpel-link="internal">How Artificial Intelligence is Reshaping Cryptocurrency Mining</a></h5>

How Artificial Intelligence is Reshaping Cryptocurrency Mining

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