Russian crypto mining firms are continuing to spend big on new projects, with the Bitcoin mining player Intelion unveiling a $135 million AI investment. The Intelion business group, one of the largest industrial mining operators in Russia, said it would spend the money on “server equipment for AI computing.” Intelion says that to “implement” its new AI project, it will spin off its “high-performance computing business” into a subsidiary. This new firm will be named Intelion Cloud. It will reportedly focus on “developing a group of companies in the AI field.” It will also “provide clients with access to high-performance computing power.”
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