CandleFocus Bitcoin Miner Hive Bets Big on AI Boom With $30 Million Nvidia GPU Deployment in Quebec
2024-12-26
Author: Content Editor
Hive Digital Technologies has invested $30 million in advanced Nvidia GPUs for high-performance computing (HPC) and artificial intelligence (AI) applications in Quebec. The deployment of the Nvidia H100 and H200 GPU clusters will enable Hive to support AI and cloud computing needs, diversifying its revenue streams beyond bitcoin mining. The expansion is expected to generate over $35 million in annualized revenue by mid-2025. Hive's move into AI-driven HPC is in response to the increasing demand for AI capabilities in industries such as healthcare, education, and creative media. The company plans to leverage renewable energy sources in Quebec to align with its sustainability goals. This move also reflects Hive's broader strategy to diversify bitcoin mining operations and convert existing infrastructure into data centers for HPC services, which offer higher margins than crypto mining.
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