10 months ago
Hive made the rebrand to bespeak its “evolving focus” connected gross opportunities successful AI, unreality commuting and GPUs.
Crypto mining steadfast Hive Blockchain is present calling itself Hive Digital Technologies — aft enacting a branding pivot that seeks to item its foray into artificial intelligence.
The Vancour-based mining institution said successful a July 12 statement it has dropped “blockchain” from its sanction to amended correspond the company’s “evolving focus” connected gross opportunities successful graphics processing units (GPUs) and unreality computing arsenic good arsenic “its ngo to thrust advancements successful AI” and enactment the “new Web3 ecosystem.”
"As we grow our GPU Cloud business, we necessitate a strategy that amended reflects some sides of our business. We physique infrastructure for emerging integer tech, not conscionable blockchain, and we mean to utilize our ample fleet of GPUs to turn a unreality hosting business,” said Hive’s CEO Aydin Kilic successful a July 12 filing to the U.S. Securities and Exchange Commission.
We're excited to denote that contiguous we officially changed our sanction to .
The sanction amended reflects our evolving absorption connected unreality compute technology, AI and the Web3 ecosystem.
Read the property release: https://t.co/yczuLivGq6 pic.twitter.com/5jijZFqdeI
Additionally, Hive said that it volition usage its 38,000-strong fleet of Nvidia GPUs to supply tiny and medium-sized businesses with a much businesslike alternate to large unreality work providers.
“We judge AI and instrumentality learning are going to thrust important request for GPU compute going forward," Kilic added.
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While the bulk of the crypto mining companies contiguous absorption connected mining Proof-of-Work cryptocurrencies specified arsenic Bitocin (BTC), Hive was among a fistful of firms that leveraged GPUs to excavation Ether (ETH), the autochthonal cryptocurrency of the Ethereum web astatine scale.
Following the completion of the Ethereum Merge successful September past twelvemonth — which saw the blockchain modulation to a miner-less Proof-of-Stake statement mechanics — the GPUs erstwhile utilized to excavation ETH were rendered drastically little profitable.
Hive isn’t the archetypal mining institution to driblet “blockchain” from its namesake. On Jan. 3 Bitcoin mining steadfast Riot Blockchain rebranded to Riot Platforms successful a bid to bespeak its “increasingly diversified concern operations.”
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