HIVE: From Bitcoin to AI data centres
Many tech companies are looking to diversify their revenue streams by powering the AI revolution. One such company is Canada-based data centre company HIVE Digital Technology.
IGTV’s Angeline Ong caught up with HIVE’s CEO Aydin Kilic to find out why they have evolved into an ‘infrastructure as a service’ business, utilising hydroelectric energy from Sweden and Canada and geothermal power from Iceland.
(AI Video Summary)
HIVE's movements into AI
HIVE Digital Technology, a pioneer in cryptocurrency mining, has diversified into high-performance computing and AI, leveraging its dual operation of Bitcoin ASICs and NVIDIA GPUs. CEO Aydin Kilic discusses the transition post-Ethereum's shift to proof of stake, expanding into AI computations which offer significantly higher revenue potential compared to Bitcoin mining.
HIVE's growth aims
Focused on sustainable energy sources, HIVE aims for aggressive growth in AI with a vision of reaching $100 million in annual revenue. Despite a solid business model and minimal debt, HIVE believes it is undervalued compared to peers, presenting an attractive opportunity for investors interested in blockchain and AI technologies.
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