Hive Digital, a leading crypto mining firm, has adapted its business model by pivoting toward artificial intelligence (AI).
Author: Sahil Thakur
Written On: Tue, 01 Oct 2024 10:10:11 GMT
Hive Digital, a leading crypto mining firm, has adapted its business model by pivoting toward artificial intelligence (AI). The company has repurposed its $66 million investment in Nvidia GPUs, initially intended for crypto mining, to power AI workloads.
Hive executives Frank Holmes and Aidan Killick shared insights into the company’s AI strategy in an interview. According to Killick, the company’s GPUs now generate up to $1 per hour for AI tasks, compared to just $0.12 per hour for crypto mining. Holmes emphasized the growing institutional interest, stating, “Institutions are much more interested in us with our AI than Bitcoin.”Key Highlights:
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