Galaxy Digital is transitioning its bitcoin mining operations toward artificial intelligence computing due to revenue declines alongside increased competition in the sector. The company signed a non-binding agreement with a U.S.-based hyperscaler firm to repurpose its 800 megawatts (MW) of mining capacity into hosting high-performance computers. Currently, Galaxy has 200 MW in operation and is investigating an additional 1.7 gigawatts for potential permits. The shift to AI computing aims to diversify revenue sources as the fourth halving event has significantly decreased mining rewards, contributing to tighter profit margins. This trend aligns with the broader industry response to the economic pressures from the halving and rising mining difficulty, as firms look to optimize their existing resources for AI demand. Other mining companies are also exploring similar routes, following moves from major players within the sector.

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