Crypto mining firm Hive Blockchain sent a signal to the tech industry when it dropped “blockchain” from its namesake in July, opting to call itself Hive Digital Technologies and reflect its artificial intelligence foray.
The decision is part of a wider movement from crypto miners to pivot outside of digital currency mining, amid depressed crypto prices. January saw crypto mining firm Riot Blockchain (NASDAQ:RIOT) rebrand to Riot Platforms while June saw crypto miner Applied Digital announce a $460 million deal to host AI cloud computing in its data center.