TechFlow reported, on July 12, cryptocurrency mining company Hive Blockchain announced it has removed the word "Blockchain" from its name and rebranded as Hive Digital to better reflect its "evolving focus" on graphics processing unit (GPU) and cloud computing revenue opportunities, "its mission: advancing artificial intelligence," and supporting a "new Web3 ecosystem."
"As we expand our GPU cloud business, we need a name that better reflects both sides of our strategy. We build infrastructure for emerging digital technologies, not just blockchain, and we intend to leverage our large fleet of GPUs to grow our cloud hosting business," said Aydin Kilic, CEO of Hive, in a filing submitted to the U.S. Securities and Exchange Commission on July 12.
