XY Miners Secures $70M to Enhance AI Cloud Mining

XY Miners Secures $70M to Enhance AI Cloud Mining

XY Miners has announced a $70 million Series B funding round to advance its AI-based cloud mining infrastructure, aiming to boost user returns by 20%.

XY Miners has announced a $70 million Series B funding round to enhance its AI-based cloud mining infrastructure, aiming to boost user returns by 20% announced in a press release. The funds will be used to develop advanced computing facilities and integrate AI to optimize mining efficiency and system performance.

The financing round saw participation from several investment institutions with expertise in blockchain and sustainable technology. XY Miners plans to use the investment to expand its green energy data centers across North America, Europe, and Asia, utilizing renewable energy sources such as hydropower and wind power.

By incorporating AI algorithms, XY Miners intends to dynamically adjust resource allocation, predict optimal mining windows, and reduce energy consumption. This approach is expected to increase the success rate of block verification, providing more stable and predictable returns for users.

We hope you enjoyed this article.

Consider subscribing to one of several newsletters we publish. For example, in the Daily AI Brief you can read the most up to date AI news round-up 6 days per week.

Also, consider following us on social media:

AI Brief
AI Brief (X)

More from: Funding

More from: Finance

Subscribe to Daily AI Brief

Daily report covering major AI developments and industry news, with both top stories and complete market updates

Market report

Superagency in the Workplace: Empowering People to Unlock AI’s Full Potential

This report explores the transformative potential of artificial intelligence in the workplace, emphasizing the readiness of employees versus the slower adaptation of leadership. It highlights the significant productivity growth potential AI offers, akin to historical technological shifts, and discusses the barriers to achieving AI maturity within organizations. The report also examines the role of leadership in steering companies towards effective AI integration and the need for strategic investments to harness AI's full capabilities.

Read more

You May Also Like