Invest ideasNews
28 Apr 2026, 16:50
Stablecoin Giant Tether Reveals Plans for Modular Bitcoin Mining Hardware
Leading stablecoin issuer Tether has teamed with Canaan and ACME Swisstech to develop customizable, upgradable Bitcoin mining rigs.
28 Apr 2026, 14:01
Core Scientific shifting 300 MW BTC mining to AI campus
🚀 Core Scientific will convert 300 MW of BTC mining capacity into an AI data campus.Facilities in Texas will form part of a planned 1.5 GW AI data center.💡 Key point: In 2024, more crypto miners like $BTC operators are shifting to AI for new revenue sources. Continue Reading: Core Scientific shifting 300 MW BTC mining to AI campus The post Core Scientific shifting 300 MW BTC mining to AI campus appeared first on COINTURK NEWS .
28 Apr 2026, 11:15
Russia to tax non-residents’ crypto income at 30%
Russia’s finance ministry has come up with a mechanism to tax crypto-related income that will complement upcoming rules for digital currency transactions. Under the proposed scheme, non-residents will transfer a significantly larger share of their profits to the Russian state than investors and earners residing in the country. Moscow to tap into money made on Russia’s regulated crypto market The Russian Ministry of Finance (Minfin) has prepared amendments to the country’s Tax Code to sort out the taxation of transactions involving digital assets, the local press unveiled. The draft legislation has been approved by the federal government’s commission on legislative activity on Monday, the business daily Vedomosti reported, quoting sources present at the meeting. The proposal aims to align national tax rules with the massive bill “On Digital Currency and Digital Rights” recently passed on first reading by the State Duma, the lower house of parliament. After much deliberation, Russia finally decided to regulate rather than ban cryptocurrencies like Bitcoin through a package of laws scheduled for adoption by July 1, 2026. The push is part of a plan to bring this and other sectors of the Russian economy out of the shadows, which was announced by the executive power in Moscow last year. A dedicated new article will determine the payment of personal income tax on profits from the sale or other disposal of digital assets, such as exchanges for fiat money. The positive difference between revenues from crypto transactions and expenses, such as acquisition costs, intermediary fees and storage expenses, will form the tax base. Services provided by digital depositories and exchanges will be exempt from VAT. The same applies to what the document calls “related services” pertaining to trading and issuance. Russia to use progressive scale for personal income tax on crypto In the absence of proper regulations, many cryptocurrency transactions in Russia were largely untaxed until now, with only a few exceptions. Mining became the country’s first regulated crypto activity in late 2024. Companies and sole proprietors engaged in the business are required to register with the Federal Tax Service (FNS). Since January 1, 2025, income from cryptocurrency mining received by legal entities is subject to corporate income tax at a rate of 25%. Individual entrepreneurs and private citizens mining digital coins are required to pay personal income tax according to a progressive scale, between 13 and 22%. However, the tax rate for non-residents is much higher, at 30%. These rates will apply to other crypto transactions as well, although with some specifics. For example, income derived from mining will be reported as part of the general income, while profits from investment and trading will form a separate tax base. Intermediaries such as brokers and trustees will be responsible for withholding and transferring taxes owed by their clients to the state budget. Whether crypto investors will be treated fairly is an open question Vladimir Gruzdev, chairman of the Board of the Association of Lawyers of Russia, believes the amendments will curb tax evasion and boost transparency in the crypto space. According to Alexey Istomin, partner at the Pareto Legal firm, the Minfin ’s taxation mechanism treats digital financial assets like traditional financial instruments without increasing the tax burden. “For the most part, the new bill aims to close existing gaps in the taxation of cryptocurrency and certain transactions involving it,” added Denis Polyakov, head of digital economy practice at GMT Legal. Others warn, however, that there are more pressing issues to solve. Russia needs to first “find someone to tax,” remarked Dmitry Machikhin, founder and CEO of the compliance platform BitOK. Commenting to Vedomosti, he emphasized that the proper conditions that would convince crypto owners to emerge from the shadows are yet to be created. Russia’s upcoming crypto framework has been criticized for being overly restrictive. It legalizes cryptocurrencies but admits only the largest coins to the regulated Russian market. Your bank is using your money. You’re getting the scraps. Watch our free video on becoming your own bank
28 Apr 2026, 09:45
Bitcoin miner Core Scientific shifts to AI with 1.5GW data center push
Core Scientific is converting its Pecos, Texas site into a high-density AI colocation hub, repurposing 300MW of mining capacity.
28 Apr 2026, 09:30
Core Scientific Transforms Bitcoin Mining Capacity Into Massive AI Data Center Campus in Texas
BitcoinWorld Core Scientific Transforms Bitcoin Mining Capacity Into Massive AI Data Center Campus in Texas Core Scientific (CORZ) plans to repurpose part of its Bitcoin mining capacity for AI data centers in Pecos, Texas. The company will develop a site with up to 1.5 GW of capacity, as reported by Cointelegraph. Approximately 1 GW of this capacity will be available for lease. Additionally, about 300 megawatts (MW) currently used for Bitcoin mining will convert to data center operations. Core Scientific also purchased over 200 acres of land to support this expansion. Core Scientific AI Data Center Expansion Details This strategic shift marks a significant pivot for the cryptocurrency mining firm. The Pecos site will transform into a massive AI-focused data center campus. Core Scientific aims to meet growing demand for high-performance computing infrastructure. The company plans to lease 1 GW of capacity to AI and cloud computing clients. This move aligns with broader industry trends toward repurposing energy-intensive mining facilities. The conversion of 300 MW of Bitcoin mining capacity is a key component. These operations will shift from cryptocurrency mining to supporting AI workloads. Core Scientific purchased additional land to accommodate the expanded campus. The site’s total capacity of 1.5 GW positions it among the largest data center developments in the United States. Strategic Shift From Bitcoin Mining to AI Infrastructure Core Scientific’s decision reflects changing market dynamics. Bitcoin mining profitability has faced pressure from energy costs and regulatory scrutiny. Meanwhile, AI data center demand has surged due to advances in machine learning and cloud computing. By repurposing existing infrastructure, Core Scientific leverages its energy expertise for a new revenue stream. The company already operates large-scale Bitcoin mining facilities. These sites have robust power infrastructure and cooling systems. Converting them for AI workloads requires upgrades but reduces initial capital expenditure. This approach offers faster time-to-market compared to building new data centers from scratch. Industry Context and Expert Perspectives Industry analysts view this move as a natural evolution. Cryptocurrency mining firms possess valuable assets: access to low-cost energy and existing facilities. AI data centers require similar attributes. Experts at JPMorgan note that such conversions could reshape the data center landscape. They highlight the potential for hybrid facilities that serve both blockchain and AI workloads. Core Scientific’s Pecos site benefits from Texas’s deregulated energy market. The state offers competitive electricity prices and renewable energy options. This makes it attractive for energy-intensive operations like AI training. The company’s land acquisition further secures its position in this growing market. Technical and Operational Implications Converting Bitcoin mining infrastructure for AI requires specific technical adjustments. Bitcoin miners use ASIC chips optimized for hash calculations. AI data centers need GPU clusters for neural network training. Core Scientific must install new hardware and networking equipment. Cooling systems also require upgrades to handle higher heat loads from GPUs. The company’s experience with large-scale operations provides an advantage. Core Scientific manages over 700 MW of Bitcoin mining capacity across multiple sites. This operational expertise translates to managing complex data center environments. The company can leverage existing supply chain relationships for hardware procurement. Power infrastructure: Existing substations and transformers can support AI workloads with modifications Cooling systems: Immersion cooling used for Bitcoin mining can adapt for GPU clusters Network connectivity: Fiber optic connections must upgrade for high-bandwidth AI data transfer Security: Physical security measures already in place for mining facilities require enhancement Market Impact and Competitive Landscape Core Scientific’s announcement affects multiple sectors. The cryptocurrency market may see reduced mining capacity. AI infrastructure providers face new competition from converted mining sites. Traditional data center operators must adapt to this emerging trend. The Pecos site will compete with established AI data center hubs in Northern Virginia and Silicon Valley. Texas offers lower land costs and faster permitting processes. However, the state faces challenges with grid reliability during extreme weather events. Core Scientific must address these risks through backup power systems and renewable energy integration. Other mining firms may follow Core Scientific’s lead. Companies like Riot Platforms and Marathon Digital Holdings have similar infrastructure. They could also pivot toward AI services. This trend could accelerate the convergence of cryptocurrency and AI industries. Timeline and Development Phases Core Scientific has not announced specific completion dates. Industry estimates suggest the first phase could be operational within 18-24 months. The conversion of 300 MW will likely occur first. The additional 1 GW for lease will require new construction and longer timelines. The company must secure tenants for the leased capacity. Major cloud providers and AI startups are potential customers. Core Scientific may offer colocation services or fully managed solutions. The success of this project depends on attracting anchor tenants with long-term commitments. Conclusion Core Scientific’s decision to repurpose Bitcoin mining capacity for AI data centers represents a strategic evolution in the cryptocurrency and infrastructure sectors. By converting 300 MW of existing mining operations and developing up to 1.5 GW of AI-focused capacity in Texas, the company positions itself at the intersection of two high-growth industries. This move leverages existing energy assets while addressing growing demand for AI computing. The success of this project could influence other mining firms and reshape the data center landscape. Core Scientific’s AI data center expansion highlights the adaptability of cryptocurrency infrastructure for emerging technologies. FAQs Q1: Why is Core Scientific converting Bitcoin mining capacity to AI data centers? Core Scientific is responding to growing demand for AI computing infrastructure. Bitcoin mining profitability has declined, while AI workloads require similar energy and cooling resources. This conversion allows the company to leverage existing assets for a higher-growth market. Q2: How much capacity will Core Scientific’s AI data center have? The Pecos, Texas site will have up to 1.5 GW of total capacity. Approximately 1 GW will be available for lease to AI and cloud clients. About 300 MW currently used for Bitcoin mining will convert to data center operations. Q3: What are the advantages of converting Bitcoin mining sites for AI? Existing power infrastructure, cooling systems, and land reduce initial capital costs. Mining firms have expertise in managing large-scale energy operations. This approach offers faster deployment compared to building new data centers from scratch. Q4: Will other Bitcoin mining companies follow Core Scientific’s lead? Industry analysts expect other mining firms to explore similar conversions. Companies with large power contracts and existing facilities may pivot toward AI services. This trend could accelerate as AI demand continues to grow. Q5: What technical changes are needed for this conversion? Core Scientific must replace ASIC miners with GPU clusters for AI workloads. Cooling systems require upgrades for higher heat loads. Network infrastructure needs enhancement for high-bandwidth data transfer. Security and monitoring systems also require updates. This post Core Scientific Transforms Bitcoin Mining Capacity Into Massive AI Data Center Campus in Texas first appeared on BitcoinWorld .
28 Apr 2026, 05:30
Mining Farms to AI Data Centers: CleanSpark CEO Issues Urgent Caution on Conversion Costs
BitcoinWorld Mining Farms to AI Data Centers: CleanSpark CEO Issues Urgent Caution on Conversion Costs At the Bitcoin 2026 Conference in Miami, CleanSpark CEO Matt Schultz issued a stark warning about converting mining farms to AI data centers. He highlighted the dramatic cost increases and operational challenges that many in the industry overlook. This caution comes as Bitcoin miners explore new revenue streams amid market volatility. Mining Farms to AI Data Centers: The Cost Reality Schultz explained that the cost per megawatt for converting mining farms to AI data centers jumps significantly. Specifically, it rises from around $500,000 to between $10 million and $12 million. This represents a 20-fold increase in capital expenditure. Many mining firms underestimate these costs, focusing only on potential stock gains. Staffing requirements also change drastically. For every 10 megawatts, a mining facility needs roughly one employee. In contrast, an AI data center requires about eight employees for the same capacity. This increase reflects the need for specialized skills in cooling, networking, and hardware maintenance. Lease Terms and Revenue Risks Schultz emphasized that major cloud providers impose extremely strict lease terms. A single day of delay can wipe out an entire year’s contract revenue. This risk makes the conversion process particularly dangerous for unprepared firms. The CEO urged the industry to approach these projects with caution and thorough planning. The timeline for such conversions is also critical. Typical projects take 18 to 24 months to complete. Any disruption in supply chains or construction can lead to severe financial penalties. Mining companies must secure reliable partners and contingency plans before starting. Industry Context: Why Mining Farms Are Pivoting The push to convert mining farms to AI data centers stems from several factors. Bitcoin’s price volatility and the recent halving event have reduced mining profitability. Simultaneously, the AI boom has created massive demand for high-performance computing infrastructure. Many mining facilities already possess key advantages: access to cheap power, existing cooling systems, and secure locations. However, Schultz warned that these advantages do not automatically translate to AI success. The technical requirements for AI workloads differ fundamentally from those for cryptocurrency mining. Technical Differences Between Mining and AI Bitcoin mining relies on ASIC chips designed for a single task: solving SHA-256 hashes. AI data centers require GPUs or specialized AI accelerators that handle diverse workloads. The power density, cooling needs, and network infrastructure differ significantly. For example, a typical mining rig operates at around 3,000 watts per square foot. An AI server rack can exceed 40,000 watts per square foot. This requires advanced liquid cooling systems and upgraded electrical infrastructure. Many existing mining facilities lack these capabilities. Expert Perspectives on Conversion Feasibility Industry analysts have mixed views on the feasibility of converting mining farms to AI data centers. Some argue that the existing power infrastructure and real estate provide a strong foundation. Others point to the high costs and technical challenges as major barriers. A recent report from a consulting firm estimated that only 15% of existing mining facilities are suitable for AI conversion without major upgrades. The remaining 85% would require substantial capital investment. This aligns with Schultz’s cautionary stance. Short-Term Stock Gains vs. Long-Term Viability Schultz specifically warned against focusing on short-term stock gains. When mining companies announce AI conversion plans, their stock prices often surge. However, the CEO noted that these gains can be misleading. The actual execution risks are high, and many projects fail to deliver. Investors should look beyond the headlines. They need to assess the company’s technical expertise, financial resources, and partnership quality. Without these elements, conversion attempts can lead to significant losses. Case Studies and Real-World Examples Several mining companies have already attempted AI conversions with mixed results. One firm successfully repurposed its facility in Texas, securing a contract with a major cloud provider. However, the project took three years and exceeded its budget by 40%. Another company in Norway abandoned its conversion plans after facing regulatory hurdles and construction delays. The failed attempt cost the firm over $50 million. These examples underscore the risks Schultz highlighted. Best Practices for Successful Conversion Based on industry experience, several best practices emerge. First, companies should conduct thorough feasibility studies before committing capital. Second, they should partner with experienced data center developers. Third, they should negotiate flexible lease terms that account for potential delays. Additionally, firms should retain some mining capacity as a hedge. This provides revenue stability during the transition period. Diversification, rather than full conversion, may be a safer strategy. Conclusion Converting mining farms to AI data centers presents both opportunities and significant risks. CleanSpark CEO Matt Schultz’s warning at the Bitcoin 2026 Conference highlights the need for caution. The cost increases, staffing changes, and strict lease terms demand thorough planning. Mining companies must avoid the trap of short-term stock gains and focus on long-term viability. As the industry evolves, those who approach conversion with realistic expectations and robust execution plans will succeed. FAQs Q1: Why are mining farms converting to AI data centers? Mining farms are converting due to reduced Bitcoin profitability and growing demand for AI computing power. The existing power infrastructure and real estate make them attractive candidates for repurposing. Q2: What are the main cost increases in conversion? The cost per megawatt jumps from $500,000 to $10-12 million. Staffing needs also increase from one to eight employees per 10 MW. These changes reflect the more complex requirements of AI workloads. Q3: How strict are the lease terms from cloud providers? Major cloud providers impose extremely strict terms. A single day of delay can wipe out an entire year’s contract revenue. This makes project management and contingency planning critical. Q4: What percentage of mining facilities are suitable for conversion? Industry estimates suggest only 15% of existing mining facilities are suitable without major upgrades. The remaining 85% require substantial capital investment for power, cooling, and networking. Q5: What should investors look for in mining companies pursuing AI conversion? Investors should assess technical expertise, financial resources, partnership quality, and realistic timelines. Short-term stock gains can be misleading without solid execution plans. This post Mining Farms to AI Data Centers: CleanSpark CEO Issues Urgent Caution on Conversion Costs first appeared on BitcoinWorld .
