– Hive Digital, a crypto mining company, is shifting its focus to artificial intelligence (AI) and changing its name.
– The company plans to use its Nvidia GPU fleet to power cloud technology supporting AI tools like ChatGPT.
– Hive believes that businesses will seek companies like them to develop their own AI tools in the new era of digital information.
– The company’s shares rose 2.8% in Toronto trading.
– Despite the shift, Hive will maintain a strong presence in Bitcoin mining.
– The crypto industry has shown a rush to embrace AI, with tools like ChatGPT gaining popularity.
– Other crypto companies, like Solana, are also implementing AI tools.
– Crypto-focused venture firms have recently funded AI startups in the industry.
– This article is provided for informational purposes only and not intended as advice.
Crypto mining company Hive Digital is shifting its focus to artificial intelligence (AI) and rebranding by dropping “blockchain” from its name. The company plans to use its Nvidia GPU fleet to power cloud technology, specifically for the development of AI tools like ChatGPT. Hive President and CEO Aydin Kilic stated that high-performance computing, driven by GPU processing power, is growing rapidly. The company’s shares rose 2.8% in Toronto trading. While revenues from GPU mining were reduced, Hive intends to maintain a strong presence in Bitcoin mining. The crypto industry is embracing AI, with tools like ChatGPT becoming popular.
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