AI? Cloud Computing? Ethereum Miners Searching for Options

Ethereum miners seek alternatives such as cloud computing and Artificial Intelligence (AI). Some are waiting for ETHPoW, and others support Ethereum Classic.

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Ethereum Miners Searching for Options inside the AI field (Pic by Possessed Photography on Unsplash)

In Short

  • HIVE is venturing into the cloud computing sector.

  • HUT has been working on Artificial Intelligence projects for a while.

  • The bulk of the miners is between Ethereum Classic and ETHPoW.

Some leading miners backing Ethereum would be migrating to other networks. With the arrival of The Merge, that has started its first steps to transition from Proof-of-Work (PoW) to Proof-of-Stake (PoS). However, other participants would implement their mining devices to venture into other exciting areas.

The Canadian cryptocurrency company Hive Blockchain (HIVE) is using part of the processing power produced by its equipment and graphics cards to support initiatives linked to cloud computing. They are also venturing into other plans to continue their mining operations but now with other cryptocurrencies.

HIVE, cloud computing, and other projects

According to a report published by CoinDesk media, the miner already has a test pilot running in a "Tier 3″ data center, where part of its NVIDIA A40 GPU cards is operating to support cloud computing services:

"You can use these [A40] cards for cloud computing and Artificial Intelligence applications and rendering for engineering applications, in addition to scientific fluid dynamics modeling."

Alongside this initiative, HIVE's technical team has also tested other networks using their mining equipment. But it has been deriving a good part of the profits from ETH mining to finance its program to generate more Bitcoin.

According to another report by Cointelegraph, the company is expanding its Bitcoin mining program by acquiring next-generation ASIC devices. A survey presented at the end of August details that HIVE managed to mine some 290 BTC during the past month, which yields an estimated 9 BTC generated per day, despite the increase in the network's difficulty levels.

Ideas in the field of artificial intelligence

While the miners backing Ethereum are starting to diversify, another exciting initiative in which they are using the generated HASH has to do with Artificial Intelligence and Machine Learning.

Canadian mining company Hut 8 (HUT) is making inroads, which has been backing high-performance computing programs since the beginning of the year. They would make their GPU lots available for artificial intelligence processes, machine learning, and VFX rendering services.

Ethereum Classic and ETHPoW

As for the bulk of the mining community, everything indicates that the most suitable options would be the Ethereum Classic network or the future fork programmed for Ethereum that would maintain mining via PoW, an initiative known as ETHPoW.

As for Ethereum Classic, the network began operating under this name in 2016 after Ethereum decided to implement a change in which it was unaware of the theft perpetrated against The DAO, in which they stole about $60 million from the first decentralized organization intended for the crypto ecosystem. The network's HASH levels exceeded 48.6 TH/s today, reflecting a 133% growth since last July.

For its part, ETHPoW is an initiative promoted by Ethereum mining community member Chandler Guo, who proposes to create a version of the network in which mining continues as it was to accommodate the bulk of the community that would be left stranded after the arrival of The Merge.

There is still no official information on this proposal, but many that this new version will come into place in the coming weeks before Ethereum sees its expected update.

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