HIVE Digital Technologies Ltd. announced. , formerly known as HIVE Blockchain, announced that along with its rebranding, the company will focus on revenue opportunities with Nvidia graphics processing unit (GPU) cards in cloud computing technology.
HIVE plans to use a fleet of 38,000 Nvidia GPUs for computational tasks, expanding its revenue channels while pursuing advances in artificial intelligence (AI) applications. According to a press release sent to Bitcoin Magazine, the company intends to enter the GPU server cluster rental market and launch its new HIVE Cloud service. “This cloud service will enable users to access a single GPU virtual instance, a bare-bones server with up to 10 GPUs, or even clusters of multiple servers to provide a pool of computing power,” the press release said.
Aydin Kilic, President and CEO of HIVE, highlighted the importance of high-performance computing and GPU processing power in today’s AI-driven world. Kilick stated that “Training these tools, from ChatGPT to Midjourney, requires sophisticated GPU computing. As companies adapt to the new world of AI, we believe they will seek companies like HIVE to develop their own AI tools.”
CEO Frank Holmes was optimistic about the GPU computing potential with Nvidia GPU cards, saying, “We believe the order has potential for a high-margin business with annual revenue in the $100,000,000+ range.”
HIVE Digital Technologies has stated that it remains “dedicated to driving innovation through technology solutions that are sustainable and driven by business ethics,” and that its existing bitcoin mining operations will continue. The company has data centers in Canada, Sweden and Iceland.
