Hive Digital expands focus from crypto mining to AI data centers
Hive’s strategy targets meeting the rising demand for AI computing while boosting its balance sheet with green-mined Bitcoin.
When Ethereum transitioned from a proof-of-work to a proof-of-stake mechanism in 2022, crypto miner Hive Digital had to revamp its business model. The new purpose for its Nvidia graphic processing units (GPUs) was clear: artificial intelligence applications.
The GPUs, purchased in a $66 million investment in 2021, are now being used to power AI workloads, marking a new direction in the company’s technological focus.
In an exclusive interview with Cointelegraph’s editor Sam Bourgi, Hive executives Frank Holmes and Aidan Killick outlined how the firm is leveraging infrastructure to meet the growing demand for AI computing power.
Hive’s strategy targets meeting the rising demand for AI computing while boosting its balance sheet with green-mined Bitcoin.
When Ethereum transitioned from a proof-of-work to a proof-of-stake mechanism in 2022, crypto miner Hive Digital had to revamp its business model. The new purpose for its Nvidia graphic processing units (GPUs) was clear: artificial intelligence applications. The GPUs, purchased in a $66 million investment in 2021, are now being used to power AI workloads, marking a new direction in the company’s technological focus.In an exclusive interview with Cointelegraph’s editor Sam Bourgi, Hive executives Frank Holmes and Aidan Killick outlined how the firm is leveraging infrastructure to meet the growing demand for AI computing power.Read more