Cryptocurrency mining company HIVE Blockchain rebrands, aiming to focus on artificial intelligence

ChainCatcher news, Canadian publicly traded cryptocurrency mining company HIVE Blockchain (NASDAQ: HIVE) announced a strategic rebranding plan, aiming to focus on artificial intelligence. As part of this, HIVE Blockchain will be renamed HIVE Digital Technologies to showcase its transformation towards high-performance computing (HPC) data centers and artificial intelligence (AI). This rebranding is expected to take effect around July 12.

Previously, according to the fiscal year 2023 data released by HIVE Blockchain in March, the miner's revenue fell by 50% from the record level of $211 million in the same period last year. HIVE hopes to optimize its operations by leveraging artificial intelligence. (Source link)