CEO of mining company MARA: The current AI development environment is similar to the Internet bubble in the 2000s, and companies face the risk of over-building infrastructure

BlockBeats reported that on October 17, Fred Thiel, CEO of bitcoin mining company MARA (formerly Marathon Digital), warned that the current AI development environment is similar to the Internet bubble in the 2000s, and many companies may overbuild infrastructure in the absence of sufficient demand.

However, he believes that successful bitcoin miners will integrate AI components in the long term and use low-cost energy to serve AI data centers. MARA plans to expand its bitcoin mining capabilities while acquiring custom chip technology through a partnership with Auradine, and hopes that 50% of its revenue will come from non-bitcoin mining operations in the next four years.