Hut 8 completes pivot to AI market with GPU-as-a-Service launch

Bitcoin (BTC) mining agency Hut 8 has initiated its GPU-as-a-service vertical, producing income from an AI cloud developer’s inaugural GPU cluster. The cluster in a tier-three knowledge middle in Chicago options a number of Hewlett Packard Enterprise Cray supercomputers powered by 1,000 NVIDIA H100 GPUs.

Hut 8 collaborated with HPE and AdvizeX to design, configure, and fee the cluster, operated below its subsidiary, Highrise AI. The corporate secured a five-year settlement with the AI cloud developer, together with mounted infrastructure funds and revenue-sharing.

“The launch of our GPU-as-a-service vertical additional diversifies our compute layer, which now spans AI compute, Bitcoin mining, and conventional cloud providers,” Asher Genoot, CEO of Hut 8, acknowledged.

The brand new vertical goals to maximise returns on its energy belongings and digital infrastructure by scaling its compute layer throughout energy-intensive applied sciences.

“We’re thrilled to help the launch of Hut 8’s GPU-as-a-service providing, in collaboration with our trusted accomplice AdvizeX, via the supply of world-class high-performance computing options,” Jerome Boucher, Vice President and Normal Supervisor, HPC and AI Options, North America of HPE, added.

AI and cloud computing as lifelines for miners

The associated fee to mine a BTC almost doubled in a single 12 months, leaping from $14,907 to $26,232, in accordance with Hut 8’s report about its Q2 actions.

Notably, this improve was skilled by different Bitcoin mining companies, as TeraWulf reported an increase of 243.2% in power prices alone.

Thus, the transfer from Hut 8 to start out a vertical devoted to AI and cloud computing doesn’t come as shocking. Furthermore, it’s aligned with the efforts of different mining companies.

Core Scientific introduced in June a partnership to ship 70 megawatts to CoreWeave’s Nvidia GPUs. Moreover, Reuters reported that 20% of the facility capability from Bitcoin miners is anticipated to pivot to AI by the tip of 2027.

But, this pivot shouldn’t be simple. Zach Bradford, CEO of CleanSpark, informed Reuters that it takes as much as three years to construct a complicated knowledge facilities, including that the majority Bitcoin miners claiming they may pivot to AI “don’t actually know what they’re moving into.”