“Companies that once contributed to the crypto mining boom are turning to take advantage of the recent data gold rush,” the Guardian reported.
Canadian company Hive Blockchain announced in July that it would change its name to Hive Digital Technologies and shift its focus to AI. “Hive has been a pioneer in the cryptocurrency mining space since 2017. The adoption of the new company name allows us to leverage the potential of GPU cloud computing technology, an essential tool in the world of AI, machine learning, and advanced data. “This marks a significant strategic shift in our Nvidia GPU fleet, which will enable us to expand our revenue channels with our Nvidia GPU fleet,” the company said in an announcement at the time. The company's executive chairman, Frank Holmes, told Guardian Australia the transition had required significant effort. “Moving from mining Ethereum to hosting GPU cloud services involves purchasing powerful new servers for GPUs, upgrading network equipment, and moving to higher-end data centers,” he said.
“The only commonality is that GPUs are the workhorse in both cases. GPU clouds require high-end supporting hardware and a more secure and faster data center environment. There is a learning curve, but our team is adapting well and learning “fast.'' “
For companies like Iris Energy, a data center company with operations in Canada and Texas and co-founded by Australian Daniel Roberts, that's been the plan all along. Mr Roberts told Guardian Australia that Iris didn't have to change the way it operated when the AI boom arrived. “Our strategy was really to bootstrap our data center platform with Bitcoin mining and maintain optionality across the digital world. The difference between us and crypto miners is that we They're not actually miners, they're data center people.'' While the company still touts its Bitcoin mining capabilities, Iris said in its latest achievement that the company is powered by 100% renewable energy. It is well positioned for “high-density computing.” Roberts said it's not an either-or situation between Bitcoin mining and AI.
“When you compare Bitcoin and AI, I think the market will just reach equilibrium based on market-based demand for each product,” he said. He said that he sees it being operated as such. “We love the Bitcoin mining business, but its revenues are quite unpredictable. GPU cloud services should complement that nicely,” he said.
Thanks to longtime Slashdot reader mspohr for sharing the article.
