Mentioned:
More computing power for artificial intelligence is coming to Quebec. And HIVE Digital Technologies is behind it.
What’s happening:
- HIVE Digital Technologies (NASDAQ: HIVE) has announced they have invested $30M USD into new GPU hardware manufactured by Nvidia (NASDAQ: NVDA) to assemble a new cluster for high performance computing
By the numbers:
- HIVE Digital Technologies has already assembled their first new cluster in Quebec which is compromised of 248 Nvidia H100 GPUs
- An additional 508 Nvidia H200 GPUs are currently expected to arrive shortly in Quebec and be configured immediately
- HIVE Digital Technologies has publicly stated they think the new Quebec based cluster will be capable of generating roughly $35M USD in annual revenues
Why it matters:
- High performance computing has become one of the most important new opportunities for publicly traded Bitcoin miners, even recently leading prominent activist investment company Starboard Value to begin to publicly push Riot Platforms (NASDAQ: RIOT) to begin leveraging their existing data centre infrastructure for powering artificial intelligence workloads
Going deeper:
- TeraWulf (NASDAQ: WULF) also just recently announced their first major deal for high performance computing with Abu Dhabi based Core42 that will see them begin using their Lake Mariner data centre located in upstate New York
