Hut 8 has laaunched its GPU-as-a-service business to tap into the AI growth potential.
The Bitcoin miner said it partnered with Hewlett Packard Enterprise and AdvizeX to launch the 1,000 Nvidia H100 GPUs cluster.
Hut 8 eyes revenue diversification and long term growth with this AI bet.
Hut 8, an energy infrastructure provider and top Bitcoin miner, has announced that its GPU-as-a-service vertical is live.
The GPU cluster, according to a Hut 8 announcement on Sept. 26, consists of several HPE supercomputers, all powered by 1,000 Nvidia H100 GPUs. The launch follows a partnership between Hewlett Packard Enterprise and information technology firm AdvizeX.
Hut 8 eyeing AI push
Per the press release, Hut 8 subsidiary Highrise AI will host the GPU-as-a-service business, with a 5-year deal in place for revenue sharing and infrastructure payments.
The arrangement sees Hut 8 diversify its operations further, and now includes a compute layer that spans artificial intelligence, Bitcoin mining and cloud services.
“Consistent with our commitment to disciplined capital allocation, we believe a thoughtfully structured AI compute business will be accretive both financially and strategically and drive topline growth, revenue diversification, and long-term value creation, “Hut 8 chief executive officer Asher Genoot said.
A new next-gen mining chip
Hut 8’s launch of the new business vertical comes a few days after the miner announced the launch of U3S21EXPH, a new ASIC miner with direct liquid-to-chip (DLC) cooling.
The miner partnered with leading crypto mining chip maker BITMAIN to develop this new ASIC mining chip. Hut 8 plans to deploy the new model in the second quarter of 2025 via an approximately 15 exahashes per second hosting deployment.
Initial deployment of the 15 EH/s will push Hut 8’s hashrate by about 81%, while the miner expects a possible 20 EH/s of self-mining.
