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CEO of Bitcoin Mining Giant Marathon Predicts Energy Market Disruption

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CEO of second-biggest corporate Bitcoin holder predicts significant developments on energy market

Thiel has pointed to the fact that AI and data center companies have now emerged as one of the biggest financial backers of new energy generation projects.

These data centers are now helping to revive old nuclear plants. Thiel is, of course, alluding to the recent news piece about Pennsylvia-based Three Mile Island nuclear plant coming back online as part of its deal with tech behemoth Microsoft. It is expected to restart in 2028 in order to fuel Microsoft's AI data centers.

In August, Marathon Digital made headlines by taking a page out of MicroStrategy's playbook and selling convertible notes to buy more Bitcoin. The fact that it did not opt to buy mining equipment instead underscores the tough predicament of mining industry players. The company claimed that simply buying Bitcoin would be more beneficial for its shareholders.

 

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