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Hive invests $100 million to expand its HPC business and accelerate its transformation into an AI Computing Power service provider.
[Chain News] On July 22, it was reported that Hive Digital Technologies (NASDAQ: HIVE) announced an investment of $100 million to expand its High-Performance Computing (HPC) business, accelerating its transformation from a Bitcoin miner to an AI Computing Power service provider. The company's current annual revenue from its HPC business has reached $20 million, with a goal to increase it to $100 million by 2026.
During an exclusive interview at the Nasdaq headquarters, company co-founder Frank Holmes and CEO Aydin Kilic revealed that AI chips, including Nvidia H100, have been deployed and plans are in place to upgrade to Blackwell architecture GPUs. To address the power and space requirements needed for computing power expansion, Hive recently acquired a facility near Toronto Pearson International Airport that can support a 7.2 megawatt HPC load, aiming to build an AI talent network leveraging local university resources.