Toronto-based bitcoin mining enterprise, Bitfarms, has announced the engagement of two consultancy firms to investigate the feasibility of converting some of its facilities to cater for the burgeoning demand for artificial intelligence (AI) data centres.

Bitfarms revealed that Appleby Strategy Group and World Wide Technology consultants have been commissioned to evaluate its North American sites. These experts are tasked with advising on the company's computing and AI strategy while promoting the sites to prospective clients.

Cryptocurrency miners typically possess extensive plots of land and substantial power resources, vital components for the establishment of high-performance computing (HPC) and AI data centres. Using existing infrastructure, numerous miners are now repurposing segments of their operations into data centres to seize the opportunity presented by the AI boom.

However, sceptics have voiced concerns regarding the viability of this shift, citing the heightened sophistication required for AI data centres. Earlier this month, Riot Platforms initiated an assessment of the potential applications for AI and computing within sections of its Navarro County, Texas facility.

Bitfarms CEO Ben Gagnon stated: "The contracts associated with HPC/AI customers provide long-term, steady cash flows and earnings streams, while our bitcoin mining operations will continue to monetise bitcoin's flexible upside potential."