The popular crypto mining company based in Canada called Hive Blockchain has recently released an announcement. In that announcement, they expressed their decision to rebrand the company name by dropping blockchain from it. This shows the accelerated interest of its blockchain in moving from the Web3 industry to AI technology. Thus, the company would now be known as Hive Digital Technologies which shows their shifting of focus into Artificial intelligence. It was on July 12 that this Vancouver based crypto mining company came forward with this announcement. Hive CEO Aydin Kilic was the one who decided to move its huge fleet of GPUs into the sector of Artificial intelligence.
Since 2017, Hive Digital Technologies has shown their dominance in the crypto industry by continuous contribution into it. The company is said to possess almost 38,000 Nvidia GPUs which its CEO wants to harness exclusively. Cloud computing technology has been on a rise for the last few years. Thus, to harness its potential crypto mining company Hive Digital Technology is moving into the sector of Artificial intelligence. First of all, they are trying to establish a new service called Hive Cloud by renting its GPU servers on the marketplace.
The establishment of the Hive Cloud would provide a huge boost to the overall operations that Hive Digital Technologies engage in. People who are looking for powerful solutions to cloud computing technologies would receive several benefits through Hive cloud. However, when it comes to the primary goal behind Hive Cloud creation it would help small to medium size, businesses in establishing their services. Compared to all the other major cloud services providers the Hive cloud will provide its services at a cost-effective option.
Sincethe time AI technology was first brought to the market, it has continued to reign supreme over other similar technologies. The AI space has seen itself go through some rapid innovations over the past few years. Almost every day, a new company is looking to integrate AI systems into their business. Therefore, to take part in this rapid advancement of AI technology has chosen to use its GPUs in them. With the help of GPUs, a precise cloud computing technology would be created that might boost accuracy and speed.
It is quite difficult to design complicated AI systems as there is a requirement for solving complex mathematical calculations. Nevertheless, GPUs are subsequently known for their ability to solve complex operations in next to no time. Hive Digital Technologies believes in the constant rise in demand for AI technology in today’s market. The GPUs could also get closer to their potential of reaching the top.
The crypto space has continued to integrate the services of AI technology, attracting more people towards it. Also, AI technology has been quite popular when it comes to the development of new applications in recent times. One of the most renowned examples is ChatGPT, which burst onto the scene.
The decision taken by Hive to rebrand its name by dropping blockchain could potentially mean a change in direction. This would help to attain the immense growth of artificial intelligence that has been occurring for a number of years now.
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