Bitcoin Miner Hive Bets Big on AI Boom With $30 Million Nvidia GPU Deployment in Quebec

Bitcoin Miner Hive Bets Big on AI Boom With $30 Million Nvidia GPU Deployment in Quebec

From Crypto to AI: Hive Digital’s $30M Leap

Hive Digital Technologies, a leading blockchain infrastructure firm, has announced a transformative investment in high-performance computing (HPC) and artificial intelligence (AI). The company revealed plans to deploy advanced Nvidia GPUs in Quebec, signaling a strategic shift from bitcoin mining to AI-driven technologies.

$30M Nvidia GPU Investment

This week, Hive confirmed its $30 million investment in Nvidia H100 and H200 GPU clusters, a move that diversifies its operations beyond bitcoin (BTC) mining. By mid-2025, the company expects the expansion to generate over $35 million in annualized revenue.

Deployment Timeline

• H100 Cluster: Comprising 248 GPUs, it is scheduled to become operational by the end of 2024.

• H200 Cluster: Featuring 508 GPUs, deployment will commence in early 2025.

Both clusters will utilize renewable energy sourced in Quebec, aligning with Hive’s commitment to sustainability.

A Strategic Pivot to AI and Cloud Computing

Hive’s entry into AI-powered HPC is a response to increasing demand for AI capabilities across various industries, including healthcare, education, and creative media. Hive CEO Aydin Kilic highlighted the company’s collaboration with Nvidia and its growing expertise in GPU management for AI applications:

“Over the past year, we have collaborated closely with Nvidia and their OEM vendors, conducting thorough technical diligence. This partnership has enabled us to deepen our expertise in operating GPUs for AI compute applications, meeting the stringent uptime requirements for HPC and AI end-users. Notably, we successfully scaled operations to bring over 4,000 Nvidia A-series cards online, alongside HIVE’s initial purchase of 96 Nvidia H100 GPUs a year ago.”

Diversifying Beyond Bitcoin Mining

Hive’s move into AI marks a broader strategy to mitigate revenue loss from the recent bitcoin halving event. The company plans to repurpose its existing bitcoin mining infrastructure into tier-3 data centers for HPC services, which offer higher profit margins compared to cryptocurrency mining.

Conclusion

Hive Digital Technologies’ $30 million investment underscores its commitment to innovation and adaptability. By leveraging AI and HPC technologies, Hive is poised to remain a leader in the evolving digital economy while staying true to its sustainability principles.