Bit Digital has launched a new business line that will focus on Artificial Intelligence (AI). The company, through its new organ; Bit Digital AI, will provide “specialized infrastructure to support generative artificial intelligence (“AI”) workstreams.” According to a blog post released today, Bit Digital is aiming to establish itself as a force to reckon with in the artificial intelligence landscape. 

As disclosed, the establishment of the new business organ became a necessity due to the decline in Bit Digital’s Bitcoin mining business. According to the announcement, Bit Digital registered hope in the potential of the new business organ to provide an extra income stream. It is worth mentioning that Bit Digital AI commenced operations immediately after its launch.

 The new company signed a binding term sheet with a client to provide support for their GPU-accelerated workloads. More so, with the agreement Bit Digital AI will provide the client with a rental service that will avail of a minimum of 1,024 GPUs and a maximum of 4,096. However, in the announcement, the firm revealed other details like contract length and pricing unit will be determined after the signing of the master service agreement. 

Importance of the New Business to the Future of Bit Digital 

Meanwhile, the CEO of Bit Digital, Sam Tabar has illuminated the development. The executive referred to the development as an attempt to diversify the company’s business. Furthermore, he described the artificial intelligence landscape as a “market with robust demand and growth expectations.” Consequently, the CEO added that the diversification of the AI industry is an excellent expansion for the company.

Similarly, Sam Tabar said Bit Digital AI has the potential to provide a sustainable income stream. He added that the income stream from the new business enterprise will shield the company against its core Bitcoin mining and Ethereum staking business. The CEO went on to establish that the success of the AI venture and other business alternatives would go a long way in determining the future of the company. 

In his submission, Sam Tabar highlighted the importance of working with clients that have enough liquidity and a good business model. Lastly, the CEO revealed how Bit Digital AI became a reality due to the application of some essential elements. These elements as established by the CEO can prove pivotal towards making Bit Digital AI a scalable business. 

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