HIVE Digital Technologies continues to strengthen its standing in the cryptocurrency sphere, with a specific focus on
Bitcoin mining. Despite this year's Bitcoin halving, the company has managed to bolster its crypto reserves significantly, currently at 2.5k bitcoins and grown their revenue by 8% ending the fiscal year with $141 million of bitcoins. This successful fiscal stamina has likely contributed to a 9% rally in HIVE stocks. In an effort to further capitalize on the surging interest in Bitcoin, HIVE Digital Technologies has recently announced plans to construct a massive mining facility in
Paraguay, in light of the country's energy hikes. Geographical expansion is once again highlighted as the brand aims to expand operations in Sweden. Concurrently, the company has begun branching out into
Artificial Intelligence (AI), purchasing 96 Nvidia GPUs to enhance their high-performance computing operations. As part of this AI expansion, HIVE is committing to the integration of
AI Art onto the Bitcoin blockchain. Reflecting their diversification strategy, HIVE Digital has further decided to drop 'blockchain' from its official name, hinting at a possible pivot towards different business around AI. Despite the diversified business centres, the company remains robustly tied to Bitcoin mining, with recent purchase of 7,000 Bitmain S21 units to strengthen its mining power. The increased diversification and innovation have contributed to positive growth with the HIVE coin price now at all-time highs.
HIVE Coin News Analytics from Wed, 15 Nov 2017 08:00:00 GMT to Tue, 13 Aug 2024 07:00:00 GMT -
Rating 9
- Innovation 6
- Information 7
- Rumor 5
