Bitcoin mining company Hive is repurposing its old Ethereum mining rigs and using artificial intelligence (AI) to create generative AI art. The company plans to use its hash power on the Bitcoin network to inscribe the art on the Bitcoin blockchain. Hive’s project is described as ambitious as it involves various segments of the company’s business, including cloud computing platforms and custom AI models. Additionally, Hive is working with custody providers to transact uncommon satoshis (sats) found through the project. Hive went public in 2017 and is currently traded on the TSX Venture Exchange and Nasdaq. The company sees the project as unleashing a new era in the field.
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