The most valuable thing Bitcoin miners ever built might not have been Bitcoin. It was the power infrastructure underneath it.
Data-center developers across America, many of whom cut their teeth powering crypto mining rigs, are now repositioning themselves to capture a much larger prize: the insatiable demand for AI compute.
The great pivot is already underway
On June 15, AiOnX closed a $500 million deal to acquire a 77% stake in Genesis Digital Assets, one of the larger crypto mining operations with facilities in the US and Sweden. The acquisition gives AiOnX access to 1.3 GW of capacity at those sites, which will be repurposed for AI and high-performance computing workloads.
That deal pushed AiOnX’s total capacity to 3.6 GW.
