The AI factor
Blockchain isn’t operating in isolation; it competes with computationally intensive industries, such as AI, the buzzword of 2024. The rise of AI has reshaped industries, but it is also becoming a fierce competitor to blockchain for electricity and equipment. Data centers like Hut 8 and Coin Scientific are prioritizing AI workloads, which can generate up to 25 times more revenue than Bitcoin (BTC) mining. These moves highlight the growing pressure on blockchain networks to optimize resource efficiency or risk being sidelined in the race for computational dominance.
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