Hive Digital Technologies (HIVE) is evolving from a crypto mining company to a high-performance computing (HPC) services provider, aiming for $100 million in annual revenue. Initially operating with 400 GPUs and two employees, Hive is now utilizing advanced AI chips like Nvidia’s H100s to fuel its growth. In an interview at Nasdaq, co-founders Frank Holmes and Aydin Kilic discussed Hive's strategy, highlighting its shift towards AI as a more profitable energy use compared to Bitcoin mining. By mid-2023, Hive reported its first HPC revenue, which has reached a $20 million annual run rate. The company is strategically expanding its HPC capacity, recently acquiring a site near Toronto to support up to 7.2 megawatts of power. Despite the transition, Hive maintains positive mining margins and has doubled its daily Bitcoin production. Analysts view Hive's stock as undervalued, with several issuing 'Buy' ratings. The company continues to see Bitcoin as a core asset while expanding its operations in Paraguay, leveraging low-cost hydro power. Read more AI-generated news on: https://app.chaingpt.org/news

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