Hive Digital accelerates AI pivot with $100M HPC expansion — Cointelegraph exclusive

Key Points

1. Hive Digital is diversifying into AI and HPC services, leveraging advanced AI chips like Nvidia’s H100s and forthcoming Blackwell GPUs.

2. The company aims to reach a $100 million annual revenue run rate by 2026, with HPC revenue already appearing in Q2 2023.

3. Hive’s stock continues to behave like a Bitcoin proxy, with a 31% rebound over the past month but still down 27% year-to-date.

4. Hive acquired a Paraguay facility for $85 million, citing low-cost hydro power and geopolitical stability as key advantages.

5. Bitcoin mining M&A activity is increasing, with notable deals like CoreWeave’s $9 billion acquisition of Core Scientific and Marathon Digital’s acquisition of Generate Capital mining sites.