{"id":178487,"date":"2023-10-21T11:09:07","date_gmt":"2023-10-21T05:39:07","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=178487"},"modified":"2023-10-21T11:09:07","modified_gmt":"2023-10-21T05:39:07","slug":"ai-and-bitcoin-mining-meet-in-new-texas-data-center-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/ai-and-bitcoin-mining-meet-in-new-texas-data-center-crypto-news\/","title":{"rendered":"AI and Bitcoin Mining Meet in New Texas Data Center – Crypto News"},"content":{"rendered":"
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Applied Digital, a blockchain and artificial intelligence (AI) infrastructure provider, has opened its new 200-megawatt (MW) data center in Garden City, Texas.<\/p>\n

The facility marks the company\u2019s third blockchain hosting facility to go live in North America.<\/p>\n

\u201cOnce fully energized, this location will bring Applied Digital to the full planned 480MW of total hosting capacity across its blockchain hosting facilities,\u201d read the company\u2019s announcement<\/a> on Friday.<\/p>\n

A megawatt (MW) is a unit of power equal to one million watts, while a gigawatt (GW) equals one billion watts. Riot Blockchain, another publicly traded Bitcoin miner, boasts a 1GW mining facility in the same state<\/p>\n

For context, a standard home light bulb is powered by 60 watts. Meanwhile, Cambridge estimates that the entire Bitcoin network currently demands 14.83 GW, up from its 12.89 GW estimate in September.<\/p>\n

Bitcoin miners use such power to produce hashes, which are needed to construct the network\u2019s next block of transactions, for which miners are rewarded with newly minted BTC.<\/p>\n

According to Bitinfocharts<\/a>, Bitcoin\u2019s current hashrate is approximately 400 exahashes per second (EH\/s). An exahash equals one quintillion hashes.<\/p>\n

\u201cDepending on the model of miners, the facility will support 7-8.5 EH,\u201d Applied Digital Chairman and CEO Wes Cummins told Decrypt.<\/p>\n

None of that hashrate is meant for the company itself, however. Cummins said his firm only hosts \u201cother miners,\u201d meaning other companies own the rigs that Allied houses and operates on their behalf. This business allowed Applied Digital to earn $22 million in revenue during the quarter ending in May 2023.<\/p>\n

Yet like many mining firms, Applied Digital is turning its focus away from Bitcoin mining and toward high-performance computing (HPC)\u2014another energy-intensive service supporting the AI industry.<\/p>\n

Like mining, HPC requires access to large data centers, cooling systems, and cheap energy to operate profitably. According to HIVE Digital Research Director Adam Sharp<\/a>, HPC-cloud services are \u201cfar more profitable per unit of energy\u201d than Bitcoin mining.<\/p>\n

\u201cWe are focusing all new expansion on HPC\/AI workloads,\u201d said Allied\u2019s Cummins.<\/p>\n

But it seems investors aren\u2019t convinced\u2014at least not yet. Applied Digital stock, which trades on the NASDAQ under the APLD ticker, fell 5.3% on Friday.<\/p>\n

Edited by Stacy Elliott<\/a>.<\/i><\/p>\n

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Stay on top of crypto news, get daily updates in your inbox.<\/h3>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Applied Digital, a blockchain and artificial intelligence (AI) infrastructure provider, has opened its new 200-megawatt (MW) data center in Garden City, Texas. The facility marks the company\u2019s third blockchain hosting facility to go live in North America. \u201cOnce fully energized, this location will bring Applied Digital to the full planned 480MW of total hosting capacity […]<\/p>\n","protected":false},"author":2,"featured_media":178488,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-178487","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/178487","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=178487"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/178487\/revisions"}],"predecessor-version":[{"id":178490,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/178487\/revisions\/178490"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/178488"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=178487"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=178487"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=178487"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}