- Crypto miner HIVE Blockchain has introduced a pivot to synthetic intelligence and web3.
- The Canadian crypto mining agency dumped blockchain from its title and rebranded itself as HIVE Digital Applied sciences.
- The previous crypto miner plans to make use of its Nvidia graphic playing cards for cloud computing.
- The corporate’s inventory closed 4.6% within the crimson with buying and selling halted in gentle of its pivot.
Canadian crypto mining agency HIVE Blockchain has rebranded as HIVE Digital Applied sciences in a significant pivot to synthetic intelligence and web3. The Vancouver-based agency dumped blockchain from its title in a bid to mirror it’s evolving give attention to its mission to drive developments in synthetic intelligence purposes akin to ChatGPT as a way to assist the brand new web3 ecosystem.
HIVE To Use Its Nvidia Graphics Playing cards For Cloud Computing
In keeping with a press launch from HIVE Digital Applied sciences, the pivot represented the previous crypto miner’s evolving give attention to income alternatives with its Nvidia graphics processing unit (GPU) playing cards within the discipline of cloud computing. The agency plans to make use of its fleet of 38,000 graphics playing cards for computational duties on a big scale. The strategic shift in priorities will even embody a give attention to machine studying, and superior knowledge evaluation as a way to enhance income.
As we increase our GPU Cloud enterprise, we require a technique that higher displays each side of our enterprise. We construct infrastructure for rising digital tech, not simply blockchain, and we intend to make the most of our massive fleet of GPUs to develop a cloud internet hosting enterprise. We imagine AI and machine studying are going to drive vital demand for GPU compute going ahead.”
Aydin Kilic, President, and Chief Government Officer
HIVE Digital Applied sciences additionally plans to launch a brand new service known as HIVE Cloud, which will likely be used to hire out the corporate’s GPU server clusters. This enterprise mannequin goals to compete with main cloud service suppliers that cater to small and medium enterprise house owners. The corporate’s inventory misplaced greater than 4% all through the day and closed at $5.66. Buying and selling was halted in gentle of the newest growth.