Hive Digital Technologies is transitioning from Bitcoin mining to providing AI computing services with a plan to invest 100 million USD to expand its HPC segment.
Current revenue from HPC reaches 20 million USD annually, expected to rise to 100 million USD by 2026 after investing in AI chips and upgrading GPUs, while also building an AI workforce network near Toronto airport.
MAIN CONTENT
Hive invests 100 million USD to expand high-performance computing (HPC) technology.
Current HPC revenue is 20 million USD, with a target of reaching 100 million USD by 2026.
NVIDIA H100 chips have been deployed, and preparations are underway to upgrade to Blackwell GPUs, investing in infrastructure near Toronto.
What field is Hive Digital Technologies shifting towards?
According to CEO Aydin Kilic, Hive focuses on developing AI computing services instead of just Bitcoin mining, reflecting the trend of leveraging booming AI technology.
CEO Aydin Kilic stated: "We are committed to enhancing AI computing capabilities with new generation chips and expanding HPC infrastructure to meet the growing demand in this field" (2024, Nasdaq).
Hive Digital Technologies has now expanded its investment in HPC to serve more advanced AI services.
What revenue target has Hive set for the HPC segment through the new investment?
Currently, Hive's HPC revenue is 20 million USD/year, with a goal to increase it to 100 million USD by 2026, equivalent to five times in the next three years.
Frank Holmes – co-founder of Hive, emphasized: "Strategic investment in HPC enables the company to break through and balance revenue sources, anticipating the future growth of AI" (2024, Nasdaq).
This figure reaffirms the strategy of transitioning from cryptocurrency mining to high-performance computing services in line with market trends.
How has Hive implemented and upgraded AI technology?
Hive has equipped NVIDIA H100 chips – one of the leading AI GPUs, while also planning an upgrade to the Blackwell GPU architecture to increase computing performance.
The use of advanced AI chips helps Hive optimize the processing of complex data, accelerating the development of AI applications to industry standards.
"Investing in advanced AI chips and upgrading GPU systems will position Hive as a pioneering AI computing service provider, transcending the limitations of traditional cryptocurrency mining."
Frank Holmes, Co-founder of Hive Digital Technologies, 2024 (Interview at Nasdaq)
Why did Hive choose a facility near Toronto airport to expand HPC?
Hive acquired a facility near Pearson International Airport, Toronto, capable of providing up to 7.2 MW of power, meeting stringent requirements for size and capacity for large-scale HPC.
The site selection allows Hive to build an AI talent ecosystem based on resources from nearby universities, combining modern infrastructure with young talent developing AI.
"The facility near Toronto facilitates a supportive workforce and infrastructure network, aiding Hive's strategy for advanced computing development."
Aydin Kilic, CEO of Hive Digital Technologies, 2024 (Interview at Nasdaq)
Frequently Asked Questions
What industry does Hive Digital Technologies operate in?
Hive was originally a Bitcoin mining company, now shifting focus to providing AI computing services with advanced HPC technology.
What is the scale of Hive's investment in HPC?
Hive invests 100 million USD to upgrade and expand its HPC segment, with a revenue target of 100 million USD by 2026.
What technology has Hive applied in the AI segment?
The company has deployed NVIDIA H100 chips and will upgrade to Blackwell architecture GPUs to enhance AI computing performance.
Why did Hive choose the area near Toronto airport to establish its HPC facility?
This facility provides 7.2 MW of power and is close to universities to build a quality AI workforce network.
What is the current HPC revenue of Hive?
Currently, Hive generates 20 million USD annually from high-performance computing operations.
Source: https://tintucbitcoin.com/hive-digital-rot-100-trieu-usd-mo-rong-hpc/
Thank you for reading this article!
Please Like, Comment, and Follow TinTucBitcoin to stay updated with the latest news on the cryptocurrency market and not miss any important information!
