HIVE Digital Technologies expects AI-driven GPU compute to account for over 50% of revenue in 2024, up from 10%.
HIVE Digital Technologies is accelerating its AI computing business as GPU-based AI compute generates significantly higher revenue than Bitcoin mining. The company’s executive chairman stated that ASIC mining rigs earn $0.12 to $0.14 per hour, while H100 GPUs yield nearly $2 per hour. Older GPUs still produce about $1.40 per hour, roughly 10 times more than mining machines.
HIVE’s AI revenue share is projected to rise from 10% to over 50% this year. The shift reflects growing demand for high-performance computing in AI applications, which offers stronger margins compared to cryptocurrency mining. The company is prioritizing GPU expansion to capitalize on this trend.
No immediate market reaction was disclosed, but the strategic pivot underscores the financial advantages of AI compute over traditional mining operations.