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

PANews reported on October 17th that Fred Thiel, CEO of BTC mining company MARA (formerly Marathon Digital), warned that the current AI development environment is similar to the internet bubble of the 2000s, with many companies possibly overbuilding infrastructure in the face of insufficient demand. However, he believes that successful BTC Miners will integrate AI components in the long term, using low-cost energy to provide services for AI data centers. MARA plans to expand its BTC mining capacity and, through cooperation with Auradine, obtain customized chip technology, aiming to generate 50% of its revenue from non-BTC mining businesses within the next four years.