↑ HIVE Coin: Making Bold Strides towards AI and Bitcoin Mining Expansion
Hive Digital , lately renamed from Hive Blockchain , has been making strategic actions as it moves its HQ to Texas and expands to Paraguay....
The renewable energy-focused miner, Hive has been making waves in the crypto world after it announced plans to bolster its Bitcoin mining with a $60M purchase. This exciting development aims at strengthening its mining power in Paraguay and has seen HIVE shares surge by 11%. The recent plan will also enable the company to double its hashrate by the upcoming year.
The Paraguayan expansion augments the company's reach beyond crypto mining, into the realm of AI data centers. This is made possible by a significant deal with Canaan that secured 6,500 Bitcoin miners for Hive. Despite market complexities, Hive Digital ended the fiscal year with $141 million worth of bitcoin, growing its crypto reserves to 2.5k BTC, and increased its revenue by 8%.
Furthermore, the company is also leading sustainability efforts in the field of green Bitcoin mining and is investing significantly in the creation of advanced data centers tailored to the burgeoning Web3 era. As part of its sustainability efforts, Hive has been cutting costs and embracing revolutionary technologies such as AI post-halving. In addition, Hive successfully completed an ambitious $22M financing deal.
Interestingly, Hive is not just focused on its expansion but also invested in the community by launching a FUD fighters educational initiative in conjunction with Bitcoin Magazine. This initiative aims to debunk myths and solidify useful information about cryptocurrency. Looking ahead, Wall Street analysts are bullish on Hive, dubbing it one of the best cryptocurrency stocks to buy.
HIVE Coin News Analytics from Mon, 26 Mar 2018 07:00:00 GMT to Wed, 04 Dec 2024 05:30:27 GMT - Rating 9 - Innovation 8 - Information 8 - Rumor 7
