US Bitcoin Mining Firm Raises Funds With Chinese Rivals Stuck

The moves into AI-focused chips come as cryptocurrency mining companies face several headwinds. When the price of Bitcoin was rising in recent years, companies threw increasing computing resources at competing for the fixed amount of tokens that are distributed to participants in the mining process. Recently, those highly-fought over rewards have been worth less as the price of Bitcoin has gone down. Meanwhile, the reward itself was cut in half last year with an update known as the halving.