Hive CEO Aydin Kilic says he’s anticipating that enlargement within the firm’s synthetic intelligence division will virtually double annual revenue.
In an interview with DL News, the Bitcoin mining boss stated his AI fleet is already operational, and he’s on the lookout for extra alternatives.
‘This offers you a glimpse into our potential revenue’
“Our bold objective is to broaden our AI enterprise to attain an annual revenue exceeding $100 million by 2025,” Kilic stated. Hive posted revenue of about $121 million in 2023.
Primarily based on these figures, Kilic’s projections means the AI unit would virtually double its full-year gross sales haul.
It’s an indication miners are seizing on the promise of AI. By leasing computing energy to firms in AI improvement, miners have another revenue supply to buffer towards fluctuations in Bitcoin’s worth. Kilic emphasised the resilience that AI computing brings.
He added that of the agency’s 38,000 graphics processing models, or GPUs — computer systems that may carry out high-speed calculations — some 10% have been repurposed for AI-related duties.
Hive posted a 118% surge in quarterly gross sales for the three-month interval ending in December, saying it was because of beneficial properties in Bitcoin’s worth.
In 2023, Hive mined greater than 3,000 Bitcoin.
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“This offers you a glimpse into our potential revenue, which considerably varies whether or not you calculate it at a Bitcoin worth of $30,000 or $60,000,” he stated.