Gaming PC

Miner Pivots 38,000 GPUs From Crypto to AI

Cryptocurrency mining companies that have successfully navigated a turbulent cryptocurrency market to survive have had to adapt by fundamentally changing their business models. A modern example of this is Hive Blockchain. Until about a year ago, Hive Blockchain focused its vast GPU resources (about 38,000 graphics cards) on Ethereum mining. Now that is changing. By pivoting to the latest trends in the computing industry, Hive is working on innovative projects to create and run AI workloads for its customers, aiming to generate significant new revenue streams. However, we do keep some GPU horsepower to run altcoin mining and other services just in case.

We previously discussed the tough post-Ethereum merge faced by companies like Hive Blockchain and Hut 8 Mining in early May. Both companies successfully reused their GPU farms and continued trading. We started learning what new HPC business they (and thousands of GPUs) were getting into.

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