HIVE Rebrands Announces Expansion into Cloud Computing Services

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HIVE Digital Technologies Ltd., formerly known as HIVE Blockchain, has announced that with its name change, the company will focus on revenue opportunities in cloud compute technology with its Nvidia graphics processing unit (GPU) cards. .

HIVE plans to use a fleet of 38,000 Nvidia GPUs for computational tasks, expanding its revenue channels to drive advances in artificial intelligence (AI) applications. According to a press release sent to Bitcoin Magazine, the company intends to enter the rental market for GPU server clusters and launch its new service, HIVE Cloud. The press release states, “This cloud service allows users to create virtual instances of a single GPU, bare-metal servers equipped with up to 10 GPUs, or even clusters of multiple servers to provide a range of computing power.” will provide access.

Aydin Kilic, President and CEO of HIVE, highlighted the importance of high-performance computing and GPU processing power in today’s AI-driven world. “Training these tools from ChatGPT to MidJourney requires high-scale GPU computation,” said Killick. As businesses adapt to the new AI world, we believe they will be able to build their own AI Will look to companies like HIVE to develop tools.”

Executive Chairman Frank Holmes expressed optimism about the potential for GPU computing with Nvidia GPU cards, saying, “We believe there is potential for a high-margin business with annual revenues in excess of $100,000,000 in demand.”

HIVE Digital Technologies said it is “dedicated to fueling innovation with sustainable, ethically driven technology solutions” and will continue its current bitcoin mining operations. The company has data centers in Canada, Sweden, and Iceland.