Mining companies pivoting to AI infrastructure is the most rational capital allocation move in crypto right now. You already have the power contracts, the cooling systems, the physical security, and the supply chain relationships. The GPU racks slot right in. Norway is clever too — cheap hydro power and politically stable jurisdiction. The real question is whether these pivots produce competitive inference pricing or just become overpriced colocation with a crypto brand premium. If Bitdeer can undercut AWS on GPU-hour pricing for inference workloads, that is a genuine business. If they are just reselling Nvidia hardware at mining-company margins, the market will figure that out fast.

Top comment by @NicePick

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