News
- AiOnX takes 77% share in US-based cryptocurrency miner
- The deal sees it take control of 15 data centers in the US and Sweden
- The $500 million acquisition sees it secure access to 1.3 Gigawatts of power, an increasingly scarce commodity for AI datacenters
AiOnX, a major data center infrastructure developer focused on hyperscalers across Europe, has taken a majority stake in the US-based cryptocurrency mining firm Genesis Digital Assets.
The transaction, valued at $500 million, sees its parent company, SWI Group, take a 77% stake in GDA, and gives it control over 15 cryptomining data centers across the US and Sweden - and perhaps more importantly, access to 1.3 Gigawatts of available power.
The agreement encompassing 15 data centers across North Carolina, South Carolina, and Texas, as well as two sites in Sweden.
A faster buildout with ready access to powerThe move by SWI Group was reported by DataCenterDynamics, which said a deal was in the works between SWI and a then-unnamed US cryptomining entity.
It seems to have been dictated by GDA's access to readily available power, even as most hyperscaler buildouts continue to struggle with their own power limitations, and as studies indicate it could eventually stall AI datacenter growth by as early as 2030.
The reason for GDA making for a relatively no-brainer acquisition by SWI, thanks to its power connectivity.
"Power connectivity is the most valuable commodity in digital infrastructure today, and converting legacy cryptocurrency mining infrastructure to AI and high-performance computing is the best and highest use of these assets," noted SWI founder and CEO, Max-Hervé George.
"We have been investing in power-connectivity since 2020. This is what that thesis looks like at scale."
This is not an isolated move, however, with many cryptocurrency miners now pivoting to or getting outright acquired by AI hyperscalers as demand for compute, and, in tandem, power continues unabated as models get larger over time.
The reason is that not only is cryptomining relatively unprofitable compared to AI workloads that rent out GPUs under long-term contracts, but it is also inconsistent, given that cryptocurrency prices tend to fluctuate, making for an unpredictable payday for cryptominers, many of whom are heavily infused with debt to cover their scaling needs.
While modern crypto ASICs can not be repurposed for AI needs, the power they consume, much of which is locked in via long-term contracts, is much more valuable for AI datacenters since their power needs are already taken care of and available on-site, versus many otherwise ambitious and time-consuming power generation projects that some hyperscalers have directly been forced to invest in.
For context, as per estimates by Coindesk, AI contracts offer margins of as much as 85% with multi-year revenue visibility in tow, making cryptomining, even as hashrates continue to climb, while Bitcoin remains below $70,000, reflecting a broader crypto market that some feel has already entered a bear-induced winter.
- The Grand Theft Auto 6 Ultimate Edition comes with a ton of exclusive content
- Some fans are understandably disappointed
- However, it looks like an Ultimate Edition upgrade will be available
Some Grand Theft Auto 6 fans are frustrated by the amount of exclusive content locked behind the game's Ultimate Edition, but it looks like a separate upgrade will be available at some point.
Rockstar Games has officially announced the price for GTA 6, when pre-orders go live, and what editions will be available: a $79.99 Standard Edition and a $99.99 Ultimate Edition.
Unlike the Standard Edition, which only comes with the base game, the more expensive Ultimate Edition features a ton of extra goodies, including premium and exclusive content such as missions, Vice City shops, locations, and outfits.
While the announcement has many fans excited, some are disappointed that much of GTA 6 will be locked behind a higher cost version of the game.
"Locking this much s*** behind the Ultimate Edition is scummy," one fan said. Another wrote, "Having stores locked behind the Ultimate Edition in a single player game is definitely a choice."
@techradar ♬ original sound - TechRadarA user on Reddit shared similar frustrations, saying, "Rockstar I love you and all but locking content behind editions of the game like this is pretty egregious. This shouldn't be things you hide behind an ultimate edition of the game for players who just want to buy the basic game."
However, taking a look at the PS Store now that pre-orders have gone live in New Zealand, it seems that an Ultimate Edition Upgrade will be available.
There's no price right now, but if we had to guess, it could cost about the difference between the Standard and Ultimate Edition, so roughly $20.
A release date for the add-on hasn't been confirmed, but it will likely be available at launch, giving players who purchase the Standard Edition the option to upgrade and unlock all Ultimate Edition content.
Elsewhere, Sony has teamed up with Rockstar and announced that players who pre-order any edition on PlayStation Store will also instantly receive a redeemable free month of GTA+, a premium subscription for Grand Theft Auto Online.
Unfortunately, physical copies of GTA 6 won't include a disc. Instead, they'll come with a download code, and some fans aren't pleased with the new.