Latest news with #HIVE
Miami Herald
a day ago
- Science
- Miami Herald
Georgia Tech is building a $20 million AI supercomputer
Georgia Tech has received a $20 million federal grant to build a powerful new supercomputer in Midtown that will harness artificial intelligence to boost the work of scientists across the nation. Researchers hope the supercomputer, which Georgia Tech is calling Nexus, can lead to scientific breakthroughs like designing quantum materials and better understanding how the human brain works. This is not the first supercomputer at the university, but "what is unique about Nexus is that it is going to be designed to provide high-performance computing, artificial intelligence, data analytics and visualization, all of these capabilities in a single system so that researchers don't have to jump from machine to machine," Srinivas Aluru, the senior associate dean in Georgia Tech's College of Computing, told The Atlanta Journal-Constitution. "The hope is that this will make advanced computing more accessible and seamless for researchers," he said. Along with the physical Nexus system, researchers are also creating easier user interface software for supercomputers. Nexus will have 10 quadrillion bytes of permanent storage, which is the equivalent of about 10 billion reams of paper. If all that paper were stacked in one pile, it would stretch all the way to the moon and a third of the way back to Earth, Aluru said. The supercomputer will be approximately the size of 12 refrigerators grouped together and will consume as much electricity as a thousand average-sized homes. It will be built and located at the Coda data center at Tech Square and is slated to be completed by 2026. Coda already has a supercomputer called the HIVE system, which came online more than five years ago. The average useful life span for a supercomputer like that is five years, according to Aluru, because computers get faster and faster every year. The HIVE supercomputer is now operating well beyond its life span, so it will be decommissioned when Nexus is ready. The processor powering our smartphones "is probably as powerful as the most powerful supercomputer was 25 years ago," Aluru said. Ultimately, what matters for Georgia Tech is the science that will be done because of Nexus, not the bragging rights for how big the computer is, said Aluru. "Science is entering a new era where AI is becoming essential to discovery and is transforming how research is done. But to fully realize that potential, we need infrastructure that is built for this new model of science," he said. "With Nexus, we are essentially going to bridge the gap between the infrastructure and using it for scientific discovery." Copyright (C) 2025, Tribune Content Agency, LLC. Portions copyrighted by the respective providers.
Yahoo
a day ago
- Business
- Yahoo
Bitcoin's rise is giving miners a bigger bump than you think, says HIVE's Frank Holmes
Bitcoin's rise is giving miners a bigger bump than you think, says HIVE's Frank Holmes originally appeared on TheStreet. The surge in Bitcoin's price isn't just good news for investors — it's a windfall for miners, especially those who hold their BTC instead of selling. Frank Holmes, Executive Chairman at HIVE Digital Technologies, told TheStreet Roundtable host Scott Melker in an interview that price increases have a double effect for mining companies that adopt a HODL strategy. 'They do, and what people don't realize is someone that hodls Bitcoin like we do, it gives you even a bigger bump when it comes mark to market,' Holmes said.'There's such a big push for companies to buy Bitcoin, as a treasury function in addition to having cash, having Bitcoin on their balance sheets. So I think that we're gonna get a big surprise the end of June. And then the end of September, Bitcoin's gonna be higher and that's just gonna be a bigger bump,' he added. Holmes compared HIVE's approach to firms like Iris Energy, which sells all of its mined Bitcoin instead of holding. 'So it's a different business strategy than let's say ourselves,' he said. Why Holmes thinks Bitcoin will keep climbing Melker pressed Holmes on why he's confident that Bitcoin will finish strong in third quarter. 'What was significant last week was the Genius Act going through,' Holmes said, referencing recent U.S. government initiatives perceived to be favorable to blockchain and Web3. 'I think it's very important people realize how the ramifications, it's nonlinear, nonlinear math, it's not from A to B. It's going to evolve or Web3 will grow substantially in America — and in particular now with the government support not attacking Web3 and Bitcoin is the backbone to Web3.' Holmes also believes stablecoins backed by U.S. banks will play a huge role in defending the dollar against China's de-dollarization efforts.'People want U.S. dollars — realize it — and it's the battle against China. China's trying to do everything to de-dollarize, to hurt America. Well all of a sudden now the solution back to it, the proof that digital economy works when you look at Bitcoin, it's now going to grow with a stablecoin.' 'And with that, Bitcoin's capped at 21 million coins. That scarcity element just makes it — the adoption process gets these big bumps that increase.' Bitcoin treasury trend is here to stay Melker also pointed out that 'Bitcoin treasury companies' like MicroStrategy are helping drive demand. 'Michael Saylor himself, seemingly buying over a half a billion for strategy every single week,' he noted. Holmes agreed, but said the miner-treasury company dynamic has shifted. 'I don't think it's as straight as it used to be, very straight correlated, high correlation, and now different strategies all of a sudden giving a different bid to them,' he said. But Holmes thinks one big narrative is taking over: purchasing power.'The crypto ecosystem has educated so many investors. It's not about the CPI because that number is fud. That number changes all the time,' he said, pointing to economists who track inflation using older CPI methods. 'They've reported that using the 1980 basket for CPI, it's running at 12%… Your purchasing power is off 30% to 50%.' 'So people are to say, how do I hedge that? Well, you buy Bitcoin. And if you're really conservative, you just want to preserve your capital, you go buy some gold. But if you really want to preserve your capital and make money, even though it's higher risk, you buy Bitcoin.' Bitcoin's rise is giving miners a bigger bump than you think, says HIVE's Frank Holmes first appeared on TheStreet on Jul 23, 2025 This story was originally reported by TheStreet on Jul 23, 2025, where it first appeared.
Yahoo
12-07-2025
- Business
- Yahoo
HIVE stock at four-month high amid historic Bitcoin rally
HIVE stock at four-month high amid historic Bitcoin rally originally appeared on TheStreet. The HIVE Digital Technologies (Nasdaq: HIVE) stock reached $2.47 on July 11, piggybacking on the phenomenal all-time high (ATH) Bitcoin reached this week. The stock is at its four-month high, as it last reached $2.52 on Feb. 24. HIVE Digital is one of the most prominent Bitcoin mining firms in the world. Crypto mining is the process of validating and adding transactions to a blockchain by solving cryptographic problems called hashes. On July 10, the firm announced it has surpassed a $250 million annualized run rate revenue. It has also surpassed 12 exahash per second (EH/s) of global Bitcoin mining hashrate, twice its output at the beginning of 2025. Hashrate measures how fast a miner executes cryptographic functions to solve blocks in a chain. It is calculated in terms of hashes per second, i.e., the number of hash operations executed per second. "Once we hit 18 EH/s, we expect approximately $400 million in annual run rate revenue," HIVE President & CEO Aydin Kilic said. While HIVE has facilities in Canada and Sweden, the firm is making a bold bet on its expanding facility in Paraguay. On July 7, the firm announced a series of milestones it has achieved in Bitcoin production. HIVE said it mined 164 Bitcoin in June, in contrast to 139 Bitcoin in May. In fact, it mined 15 Bitcoin per EH/s and 5.5 Bitcoin on a daily basis in June. Co-founder and executive chairman Frank Holmes is counting on the Paraguay facility to reach an even higher target of 12 BTC a day by the end of 2025. HIVE stock at four-month high amid historic Bitcoin rally first appeared on TheStreet on Jul 11, 2025 This story was originally reported by TheStreet on Jul 11, 2025, where it first appeared.
Yahoo
08-07-2025
- Business
- Yahoo
Bitcoin mining company HIVE Digital records 18% jump in monthly output
Bitcoin mining company HIVE Digital records 18% jump in monthly output originally appeared on TheStreet. With a global footprint in Canada, Sweden, and Paraguay, HIVE Digital Technologies (Nasdaq: HIVE) is one of the world's most prominent Bitcoin mining firms. On July 7, the miner announced that it has recorded a rise of 18% in monthly Bitcoin production in June. Thanks to the firm successfully running the Phase 1 infrastructure at the new 100 megawatt (MW) facility in Yguazú, Paraguay, HIVE mined 164 Bitcoin in June. In contrast, the firm mined 139 Bitcoin in May. Crypto mining is the process of validating and adding transactions to a blockchain by solving cryptographic problems called hashes. Hashrate is a metric that measures how quickly a crypto miner performs cryptographic calculations to solve blocks in a blockchain. It is calculated in terms of hashes per second, i.e., the number of hash operations executed per the end of March, the mining firm said it has almost doubled its hashrate as it reached 11.4 exahash per second (EH/s) in June. HIVE claimed to mine 15 Bitcoin per EH/s in June. It mined 5.5 Bitcoin on a daily basis during the month, it said. HIVE also announced the official launch of Phase 2 (second 100 MW) at its Paraguay facility. The unit is already running at 0.4 EH/s, more than 5% of the total potential Phase 2 capacity. Once fully energized, Phase 2 is expected to generate approximately 6.5 EH/s from Bitmain S21+ Hydro miners. It is estimated to expand HIVE's global fleet efficiency to nearly 18.5 J/TH. HIVE's management expects the firm to scale up to 25 EH/s by American Thanksgiving, i.e., 27 Nov., with the launch of Phase 2. HIVE co-founder and executive chairman Frank Holmes said, 'With two 100 MW phases in Paraguay and our rapid expansion, we are more than halfway to our 2025 production goal of 12 BTC per day."The Paraguay facility is a key component in HIVE's goal of hitting the target of mining 12 Bitcoin a day toward the end of 2025 as the miner scales revenue and cash flow margins. HIVE President & CEO Aydin Kilic said, 'Paraguay has become a centerpiece of our green Bitcoin mining strategy. With hydro infrastructure, fiber, and cooling systems now fully operational, we're deploying new capacity at record speed. We expect a major lift in July as Phase 2 scales, propelling us toward our 25 EH/s goal.' In addition to Bitcoin, HIVE Digital is also focused on expanding its AI prowess. In June, BUZZ High Performance Computing Inc. (BUZZ HPC), the company's HPC subsidiary, signed a purchase agreement for a 7.2 MW Tier 3 data center facility based in Toronto, will support up to 5,000 next-generation graphics processing units (GPUs) for sovereign Canadian AI compute. During April to June, HIVE Digital issued 38,109,822 common shares that generated gross proceeds of $70 million. The firm said it is using net proceeds to fuel growth in ASIC and GPU infrastructure, data center expansions, and working capital needs. The HIVE stock jumped 3.96% to trade at $2.36 at press time. Bitcoin mining company HIVE Digital records 18% jump in monthly output first appeared on TheStreet on Jul 8, 2025 This story was originally reported by TheStreet on Jul 8, 2025, where it first appeared.
Yahoo
03-07-2025
- Business
- Yahoo
HIVE Digital Technologies' AI Cloud Earnings Tripled, Here Is What You Should Know?
HIVE Digital Technologies Ltd. (NASDAQ:HIVE) is one of the . On June 25, HIVE Digital Technologies Ltd. (NASDAQ:HIVE) reported its FY2025 results, posting revenue of $115.3 million as AI cloud earnings almost tripled. HIVE Digital Technologies Ltd.'s HPC and AI cloud revenue soared to $10.1 million from $3.4 million a year ago, growing three times year-over-year. The increase in this segment was mainly due to the expansion of the GPU fleet, earning AI compute revenue. The robust demand for high-performing computing markets continues to push sales for HIVE. Due to high demand, the company has scaled its GPU fleet to 5,000 units under its BUZZ HPC business. A close-up of a businesswoman using a laptop, being illuminated by the AI-enabled cloud interface sponsored by the company. HIVE Digital Technologies recently announced the purchase of a facility with a total installed capacity of 7.2 megawatts in Toronto to support its HBC infrastructure. This facility will accelerate the development of a sovereign Canadian AI ecosystem through HIVE's BUZZ HPC business. HIVE Digital Technologies Ltd. (NASDAQ:HIVE) is a technology company advancing in sustainable blockchain and AI infrastructure powered by green energy. While we acknowledge the potential of HIVE as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
