Hive Digital invests $100 million to expand HPC business and accelerate AI transformation

PANews reported on July 22 that according to Cointelegraph, Hive Digital Technologies (NASDAQ: HIVE) announced that it would invest $100 million to expand its high-performance computing (HPC) business to accelerate its transformation from a Bitcoin miner to an AI computing service provider. The company's current annual HPC business revenue has reached $20 million, and the goal is to increase it to $100 million by 2026.

In an exclusive interview at Nasdaq headquarters, co-founder Frank Holmes and CEO Aydin Kilic revealed that they have deployed AI chips including NVIDIA H100 and plan to upgrade to Blackwell architecture GPUs. In order to cope with the power and site requirements for computing power expansion, Hive recently acquired a facility near Toronto Pearson International Airport that can support 7.2 megawatts of HPC load, aiming to build an AI talent network based on local university resources.