NetMind Power leverages idle Ethereum miner GPUs for decentralised AI model training.
NetMind.ai, a decentralised platform that offers GPU services for AI training, has officially launched its Beta program, NetMind Power. The launch comes as massive amounts of GPU power are sitting idle following the Ethereum network’s shift from Proof-of-Work (PoW) to Proof-of-Stake (PoS). NetMindPower wants to collaborate with Ethereum miners who are interested in using their idle GPUs to earn rewards.
Training AI and machine learning models require considerable amounts of computing power. Purchasing GPUs outright or paying for the GPU cloud services offered by the tech giants that dominate the space is often financially not feasible for smaller developers.
The NetMind Power platform is fixing the shortage of processing power facing AI developers while presenting an alternative earning opportunity to Ethereum miners.
NetMind and the Decentralized GPU Market
The increasing demand for GPUs has only just begun as a growing number of companies try to carve out their niche within the AI market. The issue facing developers is the lack of affordable, secure, and reliable access to high performance computing for machine learning training, fine-tuning and inference.
The NetMind Power beta marks the launch of a distributed computing platform that anyone can contribute their resources to from anywhere in the world. Every participant contributing to the network with their GPUs is rewarded, while developers can access high-performance computing power to train Machine Learning models, fine-tune models and host models for inference.
The advantages of using NetMind include the following:
Cost: The platform offers cheaper access to GPUs than centralised alternatives. Although costs vary based various factors, estimates suggest up to an 80% discount compared to the hyperscalers.
Efficiency: NetMind supports data parallelism and model parallelism to break down training into smaller parts, leading to increases in speed and efficiency.
Familiar Tools and models: The platform supports popular frameworks such as Tensorflow and Pytorch, and will offer no-code solutions for fine-tuning the most popular foundational models.
The NetMind Power platform’s features are tailored to provide a machine learning model training interface that caters to the needs of engineers, researchers, and developers. However, the platform itself can only be as useful as the computing power it provides, and this is where former Ethereum miners find their opportunity to put their idle GPUs to use.
NetMind Power’s decentralised training platform harnesses idle GPUs globally, using advanced techniques for efficient Machine Learning training.
A Valuable Opportunity for Ethereum Miners
Ethereum miners are welcome to register with the NetMind Power Beta, and in the future, they’ll be able to benefit from contributing to the platform. Ethereum miners that previously used powerful GPUs such as the AMD Radeon or Nvidia GeForce range can, therefore, repurpose their hardware from mining $ETH to earning $NMT.
New Token but the Same Ethereum Miners
NMT is the multi-utility token that fuels the NetMind ecosystem and is used to reward users who volunteer their GPU capacity to the network.
Ethereum miners that link their GPUs to the NetMind Power network will be rewarded in NMT. The amount of rewards they receive depends on three factors: the type of GPU, the network bandwidth, and the amount of GPUs connected to the network on the given day.
Rewards are paid out daily even if a GPU isn’t utilised for training or inference as long as it is connected and online for a set period of time.
Ethereum PoW Miners: Secure a Place in the AI Revolution
Ethereum miners have accumulated a huge amount of GPU power as they spent well over a decade validating transactions on the largest smart contract blockchain on the market. The merge put the miners out of work overnight, but the NetMind Power platform has created an opportunity for Ethereum miners to put their idle hardware to work once again and contribute to the NetMind decentralised AI training platform.