Search Results for: Hive Blockchain

Hive Blockchain, a major Bitcoin mining farm, recently announced its ambition to extend customer access to its data centers, offering enhanced privacy for training large AI language models – distinctly setting it apart from rivals such as OpenAI’s ChatGPT. The company’s shift towards GPU rentals for AI training questions the traditional understanding of mining operations and its long-term viability.

“Hive Blockchain aims to leverage the intersection of big data, privacy, and cryptocurrency. Declaring an intent to facilitate AI training within its data centers, Hive differentiates itself with promises of superior data privacy. The company’s strategic shift signifies a gradual transition of mining enterprises towards the booming AI sector.”

Hive Blockchain announces plans to double its computing power to 6 EH/s through an ATM sale, raising up to $100 million. The company aims to optimize near-term repayment and mines both bitcoin and other crypto tokens. Industry growth and expansion are evident, but execution and timeline could influence the outcome.

“Hive Blockchain, now known as Hive Digital Technologies, is refocusing towards AI, cloud computing revenues, and GPU mining. They plan to use Nvidia GPUs for cloud services, demonstrating a shift from traditional blockchain technology while not completely discarding it.”

“Hive Blockchain shifts its focus to artificial intelligence as Hive Digital Technologies, while remaining committed to Bitcoin and crypto mining. The company envisions AI and blockchain jointly promoting the development of Web3, potentially enhancing user privacy and data ownership.”

Applied Digital Corporation (APLD) notably ventured into AI as its third business initiative, gaining attention for its strategic partnership with Hewlett Packard Enterprises (HEP) for the use of HPE Cray XD supercomputers. This partnership hopes to enhance APLD’s AI cloud service, potentially generating around $820 million over the next three years and compensating for the decrease in bitcoin prices.

“Digital asset miners are venturing into artificial intelligence, aiming to boost earnings and decrease dependency on conventional cryptocurrency operations. Notably, Bitcoin and Ethereum miners are driving this switch, while some miners continue mining other Proof-of-Work assets. Mining companies are rebranding to echo this trend, finding high-performance computing services for AI firms potentially more profitable than Bitcoin mining.”

“Bitcoin and Ether miners are branching into new business areas including high performance computing services for the artificial intelligence industry, seeking to diversify revenue and reduce crypto reliance. This follows the Ethereum blockchain Merge, leaving a surplus of GPUs on the secondary market, used for gaming, rendering services and mining other cryptocurrencies.”

Iris Energy plans to increase its Bitcoin mining capacity by over 63% and transition to high-performance computing (HPC) data center strategy by early 2024. This move is fueled by growing AI data center demands, highlighting a trend among crypto miners who are expanding into AI cloud services.

Bitcoin miner Marathon Digital Holdings experienced a 77% spike in their Bitcoin mining production in May, attributed to its proprietary software, an increased hash rate, rising transaction fees, and the growing popularity of Ordinals protocol. However, maintaining a balanced perspective and managing expectations is advised.

Green Proofs for Bitcoin, launched by Energy Web, aims to incentivize sustainable practices in the bitcoin mining industry. By offering transparency into companies’ decarbonization initiatives, it bridges the gap between sustainable miners and potential investors, encouraging a more environmentally friendly future.

Energy Web has launched the Green Proofs of Bitcoin (GP4BTC) registry, aiming to address environmental concerns by tracking miners’ energy inputs and their impact on electric grids. The registry evaluates miners on renewable energy credit purchases and participation in demand response programs, promoting transparency in their energy sources and supporting a greener crypto industry.

Ethereum’s migration to proof of stake leaves miners exploring AI training as an alternative use for their GPUs. However, optimal GPUs for crypto mining and AI training have different specifications. Cryptocurrency mining relies on high hash power while AI training primarily depends on vRAM capacity, creating challenges for miners transitioning between the two.

Brazil’s Central Bank has archived central bank digital currency (CBDC) related documents on GitHub, providing insight into the core aspects of the digital real. However, the document’s incompleteness sparked requests for the source code, which is promised to be made public after necessary audits. The bank plans to use the Hyperledger Besu blockchain and aims to introduce the digital token by 2024.