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Stargate AI initiative: Cipher Mining's $50 Million SoftBank Investment
Cipher Mining, a bitcoin mining company, received a $50 million investment from SoftBank, a major investor in the President Trump-announced Stargate AI initiative. This investment signifies a growing trend of Bitcoin miners diversifying into high-performance computing (HPC) and AI data center infrastructure, a move viewed positively by analysts at JPMorgan. The funding will support Cipher's expansion into this sector, capitalising on increasing demand for AI solutions. This diversification is seen as a way to mitigate the volatility inherent in the cryptocurrency market.
Published on 11 months ago