{"id":332409,"date":"2024-06-27T16:06:17","date_gmt":"2024-06-27T10:36:17","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=332409"},"modified":"2024-06-27T16:06:17","modified_gmt":"2024-06-27T10:36:17","slug":"gulf-energy-taps-into-ai-with-271m-for-data-centers-after-binance-th-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/gulf-energy-taps-into-ai-with-271m-for-data-centers-after-binance-th-crypto-news\/","title":{"rendered":"Gulf Energy Taps Into AI With $271M For Data Centers After Binance TH – Crypto News"},"content":{"rendered":"

<\/p>\n

\n

Energy billionaire Sarath Ratanavadi, Thailand\u2019s second-richest person, is accelerating his push into data centers. This move aims to capitalize on the booming market driven by increasing demand for cloud computing and artificial intelligence<\/a>. The expansion follows Gulf Energy\u2019s successful venture into digital assets through Gulf Binance Co., a joint venture with a Binance subsidiary.<\/p>\n

Strategic Expansion into Data Centers and Market Outlook<\/h2>\n

In January, Gulf Innova Co. Ltd. partnered with a Binance subsidiary to form Gulf Binance Co., which launched Binance TH<\/a>. This platform became accessible to the public after securing necessary licenses and approvals from Thailand\u2019s Ministry of Finance in May 2023. Building on this success, Gulf Energy Development Pcl and its partners are now investing an additional 10 billion baht ($271 million) to expand their data center facility near Bangkok.<\/p>\n

<\/p>\n

This expansion will double the center\u2019s energy consumption to 50 megawatts, with completion expected in March. Gulf Energy\u2019s Chief Financial Officer, Yupapin Wangviwat, announced these plans, highlighting the company\u2019s strategy to diversify into virtual banking, cryptocurrency<\/a> trading, and other technology businesses.<\/p>\n

This move comes as electricity generation in Thailand faces excess capacity. Sarath Ratanavadi emphasized the expected surge in demand for data center services, driven by increased AI adoption and cloud computing needs. The expansion aligns with regional trends, as global tech companies invest heavily in cloud computing and AI services across Southeast Asia.<\/p>\n

<\/p>\n

Also Read: Binance Cracks Down On Account Misuse, Threatens Suspension For Violators<\/a><\/strong><\/p>\n

<\/p>\n

Binance TH\u2019s Market Expansion<\/h2>\n

Binance TH, operated by Gulf Binance<\/a> is expanding its offerings. On June 8, the exchange announced plans to add ten new cryptocurrencies to its trading pairs, including LUNA\/USDT, LUNC\/USDT, and USTC\/USDT. This move aims to increase user engagement and responds to growing demand for these tokens among domestic users.<\/p>\n

<\/p>\n

Additionally, Binance TH is extending support for existing tokens on new networks, such as ETH on Base, Arbitrum, and Optimism, and USDT on various chains. Trading for these new pairs is set to begin on June 11, 2024, at 2:00 PM local time. This expansion coincides with significant market events, including an anticipated settlement between the U.S. Securities and Exchange Commission (SEC) and Terraform Labs<\/a>.<\/p>\n

Also Read: Can Shiba Inu Price Recover Amid Meme Coins Collapse?<\/a><\/strong><\/p>\n

<\/p>\n

<!– <\/p>\n

<\/div>\n

–><\/p>\n

\n
\n

\u2713 Share:<\/p>\n

<\/a><\/p>\n

\n
\n \"coingape\"
\n<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

<!– <\/p>\n

\n
\n
\n
\n

<\/p>\n

\"\"<\/div>\n
Top Crypto Marketing Firms \/ Agencies 2023; Here\u2019s Best Picks [Updated]\n <\/div>\n

<\/a><\/p><\/div>\n<\/p><\/div>\n

\n
\n

<\/p>\n

\"\"<\/div>\n
Top 10 Web3 Games To Explore In 2023; Here List\n <\/div>\n

<\/a><\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n

–><\/p>\n

\n
\n
\n
\n
\n<!–<\/p>\n
<\/div>\n

–><\/p>\n

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article. <\/p>\n<\/p><\/div>\n

\n \"\"\"\" <\/div>\n<\/p><\/div>\n<\/p><\/div>\n
\n

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n

<!– <\/p>\n

\n
\n Crypto Stories<\/span><\/p>\n

View all<\/a>\n <\/div>\n

\n
\n
\n
\n <\/p>\n
\"5<\/div>\n
5 Important Highlights from the Recent Fed Meeting <\/div>\n

<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

\n
\n
\n <\/p>\n
\"ChatGPT's<\/div>\n
ChatGPT\u2019s Next Big Upgrade: What You Need to Know <\/div>\n

<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

\n
\n
\n <\/p>\n
\"5<\/div>\n
5 Reasons behind Mega Bank\u2019s 2024 Ethereum Price Prediction <\/div>\n

<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n

–><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Energy billionaire Sarath Ratanavadi, Thailand\u2019s second-richest person, is accelerating his push into data centers. This move aims to capitalize on the booming market driven by increasing demand for cloud computing and artificial intelligence. The expansion follows Gulf Energy\u2019s successful venture into digital assets through Gulf Binance Co., a joint venture with a Binance subsidiary. Strategic […]<\/p>\n","protected":false},"author":2,"featured_media":150938,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-332409","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/332409","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=332409"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/332409\/revisions"}],"predecessor-version":[{"id":332413,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/332409\/revisions\/332413"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/150938"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=332409"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=332409"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=332409"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}