Odaily News: Canadian listed company, cryptocurrency mining firm HIVE Blockchain, has announced a strategic rebranding plan to focus on artificial intelligence. HIVE Blockchain Technologies Ltd. will be renamed as HIVE Digital Technologies Ltd., signaling its transformation towards high-performance computing (HPC) data centers and artificial intelligence (AI).



The company's common shares and warrants will continue to trade under the ticker symbol "HIVE." The change in company name will not affect any trading codes or consolidated share capital. The rebranding is expected to take effect around July 12th. (Financemagnates)



According to previous reports, Bitcoin mining firm Hive Blockchain stated in a financial report conference call with analysts that it will allow customers to train large-scale language AI models in its data centers. Compared to competitors like OpenAI's ChatGPT, the company claims to offer better privacy.



Aydin Kilic, CEO and President of the company, said, "The company now realizes that they do not want to upload sensitive customer data to companies like OpenAI that have public LLMs (large language models). Through the Hive Cloud, we hope to provide privacy for Hive, where the company can have a service agreement to own their data and privacy while still running AI computational workloads on our GPUs."