Hive Digital Expands into Artificial Intelligence

Hive Digital, a leading crypto mining firm, has adapted its business model by pivoting toward artificial intelligence (AI). The company has repurposed its $66 million investment in Nvidia GPUs, initially intended for crypto mining, to power AI workloads.

Hive executives Frank Holmes and Aidan Killick shared insights into the company’s AI strategy in an interview. According to Killick, the company’s GPUs now generate up to $1 per hour for AI tasks, compared to just $0.12 per hour for crypto mining. Holmes emphasized the growing institutional interest, stating, “Institutions are much more interested in us with our AI than Bitcoin.”Key Highlights:

Hive’s AI operations are proving far more lucrative than crypto mining, with Nvidia’s H100 chips expected to push revenues even higher.Hive is upgrading its data centers in New Brunswick and Sweden to accommodate AI demands and seeking energy-efficient solutions.Despite its AI success, Hive remains committed to Bitcoin, with plans to build a 100-megawatt mining site in Paraguay.

While AI offers immediate benefits, the company maintains that Bitcoin remains central to its long-term strategy, with a focus on sustainable mining practices.