Popular North American company shuts down Bitcoin mining operations for AI

Core Insights - Bitcoin mining is becoming unprofitable, leading several energy and digital infrastructure companies to shift focus towards artificial intelligence (AI) [1] - The Bitcoin halving event, which occurs approximately every four years, reduces the block rewards for miners, impacting their profitability [2][3] - As mining rewards decrease and the difficulty of mining increases, companies are finding it more advantageous to pivot to AI operations [4] Company Developments - Bitfarms Ltd. plans to exit Bitcoin mining by 2027 and will repurpose its data centers for AI operations, starting with an 18 MW facility in Washington State [5] - The company has secured a $128 million agreement with a major American multinational provider for critical infrastructure related to data centers [6] - Bitfarms CEO Ben Gagnon aims to develop infrastructure to support Nvidia's next generation of Vera Rubin GPUs across the company's portfolio [7]