As a seasoned crypto investor with over two decades of experience in the tech and energy sectors, I find Fred Thiel’s predictions intriguing and well-aligned with the current market trends. His foresight about the impending innovation and disruption in the energy markets, driven by AI and data centers, resonates with my understanding of how technology and infrastructure are intertwined in today’s world.
According to Fred Thiel, the leader of massive Bitcoin mining company Marathon Digital, there’s likely to be swift advancements and significant upheavals in the energy market.
Thiel highlights that AI and data center firms are now significant investors in the development of new energy production ventures.
These data centers are currently assisting in the reactivation of previously dormant nuclear power plants, such as the Three Mile Island plant in Pennsylvania, which has recently made a deal with tech giant Microsoft for its reopening in 2028. This revitalization is aimed at providing energy to Microsoft’s AI-focused data centers.
Data center managers aim to achieve energy independence, a goal that will bring about significant, favorable changes in the energy market for everyone, as stated by Thiel in his detailed social media post.
MicroStrategy-like strategy
Since the latest quadrennial halving has led to a decrease in profitability for Bitcoin mining, certain players within the mining industry are shifting their focus towards Artificial Intelligence (AI) as a means of increasing their income.
In August, Marathon Digital gained attention by following MicroStrategy’s approach and issuing convertible notes to purchase additional Bitcoins. Not choosing to invest in mining equipment instead highlights the challenging circumstances faced by those within the mining sector. The company argued that directly acquiring Bitcoin would be more advantageous for its shareholders.
The shares of Marathon Digital are down more than 30% on the year-to-date basis.
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2024-09-23 19:59