Hive Blockchain (HIVE), a Bitcoin mining firm, has announced its plans to enable customers to train large language AI models within its data centers. The company claims to offer enhanced privacy compared to competitors like OpenAI’s ChatGPT, according to statements made during an earnings call with analysts on Friday.
Recognizing the growing concerns surrounding the uploading of sensitive client data to a publicly accessible large language model, Hive aims to address this issue through its Hive Cloud platform. Aydin Kilic, CEO and President of the mining firm emphasized that Hive Cloud provides a privacy-focused solution where companies can maintain ownership of their data, establish service agreements, and execute AI compute workloads using the company’s bank of graphics processing units (GPUs). Following the announcement, Hive’s shares on the Nasdaq experienced a nearly 2% increase on Friday.
With mining economics affecting profitability and some miners facing bankruptcy, many have begun shifting their focus to the AI sector. Simultaneously, there has been a surge of interest from investors in AI. However, it remains to be seen whether mining firms can effectively compete with industry giants such as Google and Amazon Web Services, which benefit from economies of scale and decades of experience in operating high-quality customer-facing data centers.
Large language models leverage probabilistic calculations to comprehend and generate human language. They are typically trained using graphics processing units (GPUs), electronic circuits consisting of semiconductors initially designed for image processing but proven effective in running AI workloads.