Jan 31 (Reuters) - Toronto-based bitcoin miner Bitfarms ( BITF )

has enlisted two consultants to explore how it can

transform some of its facilities to meet the growing demand for

artificial intelligence data centers, it said on Friday.

WHY IT'S IMPORTANT

Crypto miners often own large plots of land and significant

power resources - assets that are also crucial for

high-performance computing (HPC) and AI data centers.

To capitalize on the AI boom, many miners have begun to

repurpose parts of their operations into data centers, given

they already have most of the infrastructure.

Critics of the approach, however, warn that the shift may

not be successful because AI data centers are more

sophisticated.

CONTEXT

Bitfarms ( BITF ) said the consultants, Appleby Strategy Group and

World Wide Technology, will analyze its North American sites.

They will also advise the company on its computing and AI

strategy, while marketing the sites to potential customers.

Earlier this month, Riot Platforms ( RIOT ) launched a

review of the potential AI and computing uses for parts of its

facility in Navarro County, Texas.

KEY QUOTE

"The contracts associated with HPC/AI customers provide

long-term, steady cash flows and earnings streams, while our

bitcoin mining operations will continue to monetize bitcoin's

flexible upside potential," Bitfarms ( BITF ) CEO Ben Gagnon said.