Riot Blockchain sells mining operation to focus on AI and cloud computing.

Crusoe Energy Systems, a leading provider of energy solutions for Bitcoin mining, has announced that it is selling its Bitcoin mining unit to NYDIG, a digital asset investment firm. The move is aimed at allowing Crusoe to focus on its core business of providing energy solutions for the growing demand of renewable energy in the cryptocurrency space.

According to the company, the sale of the mining unit will enable it to concentrate on developing its artificial intelligence (AI) capabilities, which it believes will play a crucial role in optimizing energy consumption and reducing carbon emissions in the mining process.

The sale is expected to close in the coming weeks, and the terms of the deal have not been disclosed. NYDIG, which is a subsidiary of StoneX Group, has been a significant player in the digital asset space, and the acquisition of Crusoe's mining unit is seen as a strategic move to expand its presence in the sector.

Crusoe's CEO, Jim Cargas, stated that the company is excited about the opportunity to focus on its AI capabilities, which he believes will help the company to make a significant impact in reducing the energy consumption and carbon footprint of the mining industry. "We believe that AI has the potential to revolutionize the way we approach energy consumption and emissions in the mining industry, and we are excited to be at the forefront of this development," he said.

The sale of Crusoe's mining unit is seen as a positive development for the company, as it allows it to focus on its core strengths and capitalize on the growing demand for renewable energy solutions in the cryptocurrency space. The deal is also expected to have a positive impact on the mining industry as a whole, as it will help to drive innovation and reduce the energy consumption and carbon footprint of the sector.