Bitcoin mining company Kango has sold approximately $305 million worth of Bitcoins amid the recent market downturn to support its strategic shift toward artificial intelligence (AI) investments. The company plans to deploy modular GPU units across more than 40 locations worldwide, enabling small and medium-sized businesses to access on-demand AI inference services. This move reflects Kango’s transition from traditional Bitcoin mining to advanced technological services, aiming to meet the growing demand for AI and align with emerging tech trends. The increased use of GPUs in AI is driven by their efficiency in complex computations and data processing. While the Bitcoin sale provided immediate liquidity, it also introduces potential volatility in the crypto market. Investors are advised to monitor these developments closely, as Kango’s AI investment represents a significant step toward enhancing its growth prospects in a rapidly evolving technological landscape.
Source: coindesk
