NEAR Protocol

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You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/how-artificial-intelligence-is-shaping-crypto-mining-and-altcoins/" data-wpel-link="internal">How Artificial Intelligence is Shaping Crypto Mining and Altcoins</a> 
The world of cryptocurrency has observed a notable rise in the prices of AI-driven altcoins following <a href="https://en.coin-turk.com/analysts-predict-continued-growth-for-cryptocurrency-despite-challenges/" data-wpel-link="internal">Bitcoin</a>‘s (<a href="https://en.coin-turk.com/analyst-of-the-year-2023-rally-correctly-sold-at-the-top-cryptocurrency-announced-the-level-to-buy/" data-wpel-link="internal">BTC</a>) fourth block reward halving, signaling a significant shift in market dynamics. As investor interest increases, attention is shifting towards the factors underlying this rally. Amid these developments, a comprehensive report by CoinShares offers valuable insights into the evolving outlook of the crypto market. 
<h2 style="text-align: justify" id="strong-as-in-all-areas-the-importance-of-artificial-intelligence-in-mining-is-increasing-strong">As in All Areas, 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, highlighting the growing 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 the AI field, underlining the potential for increased revenue from energy-secure locations. 
CoinShares’ analysis reveals that despite the expected short-term decline following the block reward halving, there will be a steady increase in the hashrate, projected to reach 700 Exahash by 2025. However, this year’s halving is expected to lead to lower hash prices and rising 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 is also producing intriguing results for the future of Bitcoin mining. While AI requires specialized and costly infrastructure, its compatibility with energy-secure locations offers opportunities for revenue diversification in the mining sector. Some mining companies have already started transitioning to AI projects, significantly contributing to their overall earnings. 
Nevertheless, the adoption of AI technology presents natural challenges, including the need for specialized infrastructure and skilled talent, thus creating entry barriers for smaller players in the sector. 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 shows major AI altcoins like NEAR Protocol (NEAR), The Graph (GRT), and Render Network (RNDR) making upward movements, reflecting 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 in the last 24 hours, trading at $6.80, while GRT has risen 6.61% to just over $0.30 in the same time frame. Additionally, RNDR‘s price 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-shaping-crypto-mining-and-altcoins/" data-wpel-link="internal">How Artificial Intelligence is Shaping Crypto Mining and Altcoins</a></h5>

How Artificial Intelligence is Shaping Crypto Mining and Altcoins

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