{"id":19886,"date":"2024-12-25T14:34:43","date_gmt":"2024-12-25T12:34:43","guid":{"rendered":"https:\/\/forklog.com\/en\/hive-invests-30-million-in-ai-computing-expansion\/"},"modified":"2024-12-25T14:34:43","modified_gmt":"2024-12-25T12:34:43","slug":"hive-invests-30-million-in-ai-computing-expansion","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/hive-invests-30-million-in-ai-computing-expansion\/","title":{"rendered":"HIVE Invests $30 Million in AI Computing Expansion"},"content":{"rendered":"<p>Canadian mining firm HIVE Digital Technologies has invested $30 million in Nvidia&#8217;s popular GPUs for AI computations.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/search?q=%24HIVE&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$HIVE<\/a> announces the acquisition and deployment of an additional cluster of cutting-edge NVIDIA H100 GPUs and the newest NVIDIA H200 GPUs.<\/p>\n<p>This $30 million investment reinforces HIVE&#8217;s growth position as a leader in the global gig economy while adhering to the Company\u2019s\u2026 <a href=\"https:\/\/t.co\/cmZ5rnUHaR\">pic.twitter.com\/cmZ5rnUHaR<\/a><\/p>\n<p>\u2014 HIVE Digital Technologies (@HIVEDigitalTech) <a href=\"https:\/\/twitter.com\/HIVEDigitalTech\/status\/1871540556935119029?ref_src=twsrc%5Etfw\">December 24, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The firm has acquired a cluster of 248 H100 <span data-descr=\"graphics processing unit\" class=\"old_tooltip\">GPUs<\/span> and connected them to a high-speed Infiniband network. The devices are expected to be operational by the end of December following final configuration.<\/p>\n<p>HIVE anticipates that the installations will generate approximately $15 million in annual revenue for its <span data-descr=\"high-performance computing\" class=\"old_tooltip\">HPC<\/span> division.<\/p>\n<p>The company will receive a batch of 508 of the latest Nvidia H200 GPUs in early January. Deployment of these GPUs is expected to be completed in the first quarter, with projected revenue exceeding $20 million annually.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThis expansion underscores the strategic importance of diversifying into high-performance computing to capitalize on the rapidly growing AI market, while maintaining our commitment to business sustainability, innovation, and bitcoin mining,\u201d said HIVE Executive Chairman Frank Holmes.<\/p>\n<\/blockquote>\n<p>The company is following an industry trend among cryptocurrency miners to seek additional revenue amid the AI boom.\u00a0<\/p>\n<p>According to the Policy Institute, the artificial intelligence sector offers <a href=\"https:\/\/forklog.com\/en\/news\/ai-energy-consumption-surpasses-bitcoin-mining\">17-25 times greater revenue<\/a> per kWh compared to bitcoin production.\u00a0<\/p>\n<p>One of the largest diversification deals was made by <a href=\"https:\/\/forklog.com\/en\/news\/core-scientific-to-earn-3-5-billion-from-ai-computing-deal\">Core Scientific<\/a>. The partnership with AI firm CoreWeave is expected to generate $8.7 billion over 12 years. Other industry players like TeraWulf, Hut 8, and <a href=\"https:\/\/forklog.com\/en\/news\/bitcoin-miner-iren-ventures-into-ai-computing-with-pilot-project\">IREN<\/a> have also taken steps in this direction.<\/p>\n<p>Back in October, German public miner Northern Data decided to focus on the HPC segment and began seeking a buyer for its bitcoin mining business.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Canadian mining firm HIVE Digital Technologies has invested $30 million in Nvidia&#8217;s popular GPUs for AI computations. $HIVE announces the acquisition and deployment of an additional cluster of cutting-edge NVIDIA H100 GPUs and the newest NVIDIA H200 GPUs. This $30 million investment reinforces HIVE&#8217;s growth position as a leader in the global gig economy while [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":19885,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[438,1137,1106],"class_list":["post-19886","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-artificial-intelligence","tag-cryptocurrency-mining","tag-hive"],"aioseo_notices":[],"amp_enabled":true,"views":"29","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/19886","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=19886"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/19886\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/19885"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=19886"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=19886"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=19886"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}