Decentralized cloud infrastructure provider Hive completes US$13 million in Series A financing led by SC Ventures

2024-03-27 22:23:32BlockBeatsShare to:

HIVE+4.67% ($0.4461)

According to BlockBeats news, on March 27, Hive, a cloud infrastructure provider headquartered in Geneva, announced the completion of a $13 million Series A financing. This round of financing was led by SC Ventures (the venture capital arm of Standard Chartered Bank), with participation from OneRagtime and others. Hive aims to reshape the centralized model of cloud computing, providing a decentralized model by aggregating the unused hard drives and computing power of personal devices. Hive founder David Gurlé said this could be a significant investment and if it succeeds, investors will want to be a part of it. With this recapitalization, the transition to decentralization will not only help enterprises plan cloud-related expenses more effectively, but also drive server autonomy, reduce dependence on a few cloud providers, and reduce energy use. Gurlé believes that a distributed and decentralized cloud model is "the most efficient network infrastructure."

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Price	$0.4461 USD	Price Change (24h)	+4.67%	Trading Volume (24h)	$3,417,213.36 USD
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