NEW YORK / LONDON (IT BOLTWISE) – Cipher Mining has taken a significant step towards the future by inking a 15-year deal with Amazon Web Services worth $5.5 billion. This deal will enable Cipher Mining to support specialized AI workloads and significantly expand their infrastructure. The partnership marks an important milestone in collaboration between technology companies and crypto mining firms.
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News of Cipher Mining’s new deal with Amazon Web Services has caused a stir in the technology and crypto community. The 15-year, $5.5 billion contract will see Cipher Mining provide specialized data centers for AI workloads. This agreement highlights the trend of Bitcoin miners increasingly diversifying their capabilities to support other technologies such as artificial intelligence.
The deal with Amazon is not Cipher Mining’s first significant partnership. The company had already announced a strategic collaboration with Google and Fluidstack in September, in which Google acquired a 5.4% stake in Cipher Mining. These partnerships show how important it is for crypto miners to expand their business models and create new revenue streams.
Cipher Mining’s decision to focus on AI hosting services comes at a crucial time. After the Bitcoin mining reward halving in April 2024, which significantly impacted mining profitability, many miners are looking for new ways to increase their income. Providing infrastructure for AI workloads offers a promising opportunity to close this gap.
The partnership with Amazon is further evidence that major technology companies are increasingly collaborating with crypto mining firms. This collaboration could revolutionize the way data centers operate and set new standards for the integration of AI and blockchain technologies. Experts expect such deals to become more common in the future as demand for specialized infrastructure for AI applications continues to increase.
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