MARA runs roughly 1.9 gigawatts of computing across four continents, holds more than 50,000 bitcoin, and now wants to sell you the cooling tanks and energy software behind it all.
Riot spent years turning cheap electricity into Bitcoin. Now the same land, substations and cooling know-how are being repackaged for AI - a pivot that could make the power connection more valuable than the mine.
For over a decade Bitfury built the picks and shovels of the Bitcoin economy - the chips, the cooling, the code. Now it is spending its winnings on the next wave of computing.