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Hive Digital, a crypto miner, rebrands and shifts focus to AI by dropping 'blockchain' from its name.

Hive Digital, a crypto miner, rebrands and shifts focus to AI by dropping ‘blockchain’ from its name.

Hive Blockchain, a crypto mining firm based in Vancouver, Canada, has rebranded to Hive Digital Technologies to emphasize its expansion into artificial intelligence (AI). The company aims to focus on revenue opportunities in AI, cloud computing, and graphics processing units (GPUs). The name change reflects Hive’s mission to drive advancements in AI and support the new Web3 ecosystem. Hive plans to utilize its fleet of 38,000 Nvidia GPUs to provide small and medium-sized businesses with an efficient alternative to major cloud service providers. Previously, Hive was known for mining Ether (ETH) using GPUs, but the completion of the Ethereum Merge made this less profitable. Hive follows in the footsteps of other mining companies, such as Riot Blockchain, that have dropped “blockchain” from their names to reflect their diversified business operations.

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