Bitcoin Mining Firm MARA CEO Warns Of AI Development Risks

According to PANews, Fred Thiel, CEO of Bitcoin mining company MARA (formerly Marathon Digital), has issued a warning about the current AI development environment, likening it to the internet bubble of the 2000s. Thiel cautioned that many companies might be overbuilding infrastructure without sufficient demand. However, he believes that successful Bitcoin miners will eventually integrate AI components, leveraging low-cost energy to support AI data centers in the long term. MARA plans to expand its Bitcoin mining capacity and aims to diversify its revenue streams. Through a partnership with Auradine, the company seeks to acquire custom chip technology. Over the next four years, MARA hopes to generate 50% of its revenue from non-Bitcoin mining activities.