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.
This information has been prepared by IG, a trading name of IG Markets Ltd and IG Markets South Africa Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.
Start trading forex today
Trade the largest and most volatile financial market in the world.
- Spreads start at just 0.6 points on EUR/USD
- Analyse market movements with our essential selection of charts
- Speculate from a range of platforms, including on mobile
Live prices on most popular markets
- Forex
- Shares
- Indices
Prices above are subject to our website terms and agreements. Prices are indicative only