Hive Digital Technologies, formerly known as Hive Blockchain, recently enacted a branding pivot that highlights its foray into artificial intelligence (AI) and cloud computing experiences. According to the Vancouver-located firm, the renaming sought to convey the company’s growing concentration on revenue prospects in the AI, cloud computing, and GPU movements, just as their mission to steepen advancements in the Web3 community. CEO of Hive, Aydin Kilic, articulated the recent shift in an SEC filing boasting the intention to deploy ample GPU resources in growing a powerful cloud hosting services.
Hive claims the primary motivation propelling their adjustment towards adopting a prefix of “Digital Technologies” reflects their views on conditions beyond using their huge Nvidia-based GPU pool for the sole purpose of harvesting numerous digital currencies. Kilic noted that machine learning and AI would inherently necessitate GPU compute capabilities, claiming that leaving aside the state of blockchain markets, expanding the cloud holding footpath would be sound business practices for Hive.
“We build infrastructure for emerging digital tech, not just blockchain, and we intend to utilize our large fleet of GPUs to grow a cloud hosting business”
The cryptocurrency firm Bitcoin Riot Blockchain was among the first to follow suit by pawning the blockchain leverage upon their logo while showcasing an increasing diversification of their companies’ operations. Recently taking effect as of July 12, the brand recast of Hive reflects a renewed focus present CEO, Kilic.