Frank Holmes, executive chairman of HIVE Digital Technologies, says Bitcoin-mining companies may have an important role in the expansion of artificial-intelligence computing because they already control much of the infrastructure such systems require. In an interview reported by Bitcoin Magazine, Holmes described mining facilities as “tier one” data centers and outlined how HIVE moved from cryptocurrency mining toward AI compute.
From gold and Bitcoin to AI computing
Holmes’s career path, as presented in the interview, runs from gold investing to Bitcoin mining and then to AI infrastructure. His argument is that mining operators are not starting from scratch: they may already have access to electricity, land and substations that can support high-performance computing.
HIVE’s experience with graphics-processing units, or GPUs, also shaped that transition. The company used GPUs in cryptocurrency mining, including equipment associated with Ethereum mining. After Ethereum moved away from that model, Holmes said the former mining hardware helped lead HIVE toward AI-related computing.
The broader idea is that compute capacity can be treated as a commodity. AI systems require large amounts of computing power, and Holmes said Bitcoin miners have a potential advantage because their sites were built around securing energy and operating large-scale computing equipment.
A global infrastructure opportunity
The discussion covered potential development from Paraguay to Canada. Holmes pointed to Paraguay’s central bank and Bitcoin mining in the context of mining as an export activity. He also discussed Canada’s push to expand AI capacity and said mining companies’ existing power arrangements could give them an advantage in that market.
The interview also placed the infrastructure argument within a wider discussion of digital assets and monetary policy. Topics included the effect of exchange-traded funds on Bitcoin’s market—from what Holmes called a “fear trade” toward a “love trade”—as well as a Binance liquidation event described in the program as involving $19 billion. Holmes further discussed the growth of the money supply, pandemic-era money creation and what he characterized as risks associated with modern monetary theory.
Those comments are Holmes’s views, not forecasts or guarantees. The program’s disclaimer said the opinions belonged to its participants and were not necessarily the official position of BTC Inc., Bitcoin Magazine or affiliated entities. It also stated that the content was for informational and educational purposes and was not investment, legal, tax or accounting advice.
Moneyiar market picture
Moneyiar data at 09:43–09:44 on October 3, 2026, showed a mixed but mostly weaker cryptocurrency market:
- Bitcoin was $84,572.61, down 2.06% over 24 hours but up 0.69% over seven days.
- Ethereum was $2,682.29, down 2.41% in 24 hours and up 0.06% over seven days.
- Shiba Inu was $0.0000056586, down 4.61% over 24 hours and 3.61% over seven days.
- Uniswap was $9.30, up 2.88% over 24 hours but down 3.21% over seven days.
The figures provide a snapshot of trading conditions around the time of the interview’s publication, while Holmes’s central argument concerns the longer-term use of mining infrastructure rather than a specific price target.
