Bitcoin Mining Generates 90 Percent of HIVE Digital's Daily Revenue Despite AI Push
(21 days ago) · 1 source · Summarized by CryptoBipto
HIVE Digital Technologies reportedly earns approximately $1 million per day in revenue, with about 90 percent of that coming from Bitcoin mining operations. The company has been expanding into artificial intelligence services, but mining remains its dominant revenue source.
WHY IT MATTERS
Some companies that mine Bitcoin — using powerful computers to process transactions and earn new coins — have been trying to also offer artificial intelligence computing services using similar equipment and facilities. Think of it like a factory that was built to make one product deciding to use its machines to make a second product as well. HIVE is one of these companies. This report shows that even though HIVE has been talking about expanding into AI, Bitcoin mining still provides the vast majority of its income. For people learning about crypto, this illustrates how central Bitcoin mining remains to the business models of major mining companies, even as they explore other uses for their computing power.
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- cryptoslate.com
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