RETRANSMISSION: HIVE Expands NVIDIA Chip Suite to Power AI Boom with $30 Million H100 and H200 GPU Clusters to be Deployed in Quebec
HIVE Digital Technologies has announced a $30 million investment in NVIDIA GPU clusters for AI and high-performance computing in Quebec. The deployment includes a 248 GPU H100 cluster set to be operational by end of 2024, expected to generate approximately $15 million in annualized revenue, and a 508 GPU H200 cluster arriving in January 2025, projected to contribute over $20 million in annualized revenue by Q2 2025.
The Quebec-based clusters, powered by 100% renewable energy, will support AI computing services including model training, real-time analytics, and generative AI solutions. The company highlights that revenue potential from 10 MW of HPC NVIDIA chips serving AI demand equals that of 100 MW of Bitcoin mining, marking a strategic diversification of HIVE's business model.
HIVE's HPC business reached approximately $10 million in annualized run-rate revenue in October-November 2024, with plans to target $100 million in annual revenue by 2025 through HPC services and data center infrastructure conversion.
HIVE Digital Technologies ha annunciato un investimento di 30 milioni di dollari in cluster GPU NVIDIA per IA e calcolo ad alte prestazioni in Quebec. Il dispiegamento include un cluster GPU H100 da 248 unità che diventerà operativo entro la fine del 2024, previsto per generare circa 15 milioni di dollari di entrate annualizzate, e un cluster GPU H200 da 508 unità in arrivo a gennaio 2025, proiettato a contribuire con oltre 20 milioni di dollari in entrate annualizzate entro il secondo trimestre del 2025.
I cluster situati in Quebec, alimentati da energia rinnovabile al 100%, supporteranno servizi di calcolo IA, inclusi addestramento di modelli, analisi in tempo reale e soluzioni di IA generativa. L'azienda sottolinea che il potenziale di guadagno derivante da 10 MW di chip HPC NVIDIA per soddisfare la domanda di IA è pari a quello di 100 MW di mining di Bitcoin, segnando una diversificazione strategica del modello di business di HIVE.
Il business HPC di HIVE ha raggiunto circa 10 milioni di dollari in entrate annualizzate a ottobre-novembre 2024, con piani per puntare a 100 milioni di dollari di entrate annuali entro il 2025 attraverso servizi HPC e conversione dell'infrastruttura dei data center.
HIVE Digital Technologies ha anunciado una inversión de 30 millones de dólares en clústeres de GPU de NVIDIA para IA y computación de alto rendimiento en Quebec. El despliegue incluye un clúster de GPU H100 de 248 unidades que comenzará a operar a finales de 2024, y se espera que genere aproximadamente 15 millones de dólares en ingresos anuales, así como un clúster de GPU H200 de 508 unidades que llegará en enero de 2025, proyectado para contribuir con más de 20 millones de dólares en ingresos anuales para el segundo trimestre de 2025.
Los clústeres en Quebec, alimentados por un 100% de energía renovable, apoyarán servicios de computación IA que incluyen entrenamiento de modelos, análisis en tiempo real y soluciones de IA generativa. La empresa destaca que el potencial de ingresos de 10 MW de chips HPC de NVIDIA que satisfacen la demanda de IA es equivalente al de 100 MW de minería de Bitcoin, marcando una diversificación estratégica del modelo de negocio de HIVE.
El negocio de HPC de HIVE alcanzó aproximadamente 10 millones de dólares en ingresos anuales en octubre-noviembre de 2024, con planes para apuntar a 100 millones de dólares en ingresos anuales para 2025 a través de servicios de HPC y la conversión de la infraestructura de centros de datos.
HIVE Digital Technologies가 퀘벡에서 AI 및 고성능 컴퓨팅을 위한 NVIDIA GPU 클러스터에 3천만 달러의 투자를 발표했습니다. 배치에는 2024년 말까지 운영될 248 GPU H100 클러스터가 포함되어 있으며, 연간 약 1500만 달러의 수익을 창출할 것으로 예상되며, 2025년 1월에 도착할 508 GPU H200 클러스터는 2025년 2분기까지 2000만 달러 이상의 연간 수익에 기여할 것으로 예상됩니다.
퀘벡에 있는 클러스터는 100% 재생 가능 에너지로 운영되며, 모델 교육, 실시간 분석, 생성적 AI 솔루션 등을 포함한 AI 컴퓨팅 서비스를 지원합니다. 회사는 AI 수요를 충족하기 위한 10 MW의 HPC NVIDIA 칩에서 발생하는 수익 잠재력이 100 MW의 비트코인 채굴에 해당한다고 강조하며, HIVE의 비즈니스 모델의 전략적 다각화를 나타냅니다.
HIVE의 HPC 비즈니스는 2024년 10월-11월에 연간 약 1000만 달러의 실행률 수익을 달성했으며, 2025년까지 HPC 서비스와 데이터 센터 인프라 전환을 통해 연간 1억 달러의 수익을 목표로 하고 있습니다.
HIVE Digital Technologies a annoncé un investissement de 30 millions de dollars dans des clusters GPU NVIDIA pour l'IA et le calcul haute performance au Québec. Le déploiement comprend un cluster de GPU H100 de 248 unités qui devrait être opérationnel d'ici la fin de 2024, et qui devrait générer environ 15 millions de dollars de chiffre d'affaires annualisé, ainsi qu'un cluster de GPU H200 de 508 unités qui arrivera en janvier 2025, projeté pour contribuer à plus de 20 millions de dollars de chiffre d'affaires annualisé d'ici le deuxième trimestre de 2025.
Les clusters basés au Québec, alimentés à 100 % par de l'énergie renouvelable, soutiendront des services de calcul IA comprenant la formation de modèles, l'analyse en temps réel et des solutions d'IA générative. La société souligne que le potentiel de revenus de 10 MW de puces HPC NVIDIA répondant à la demande en IA équivaut à celui de 100 MW de minage de Bitcoin, marquant une diversification stratégique du modèle commercial de HIVE.
Les activités HPC de HIVE ont atteint environ 10 millions de dollars de chiffre d'affaires annualisé en octobre-novembre 2024, avec des projets visant à atteindre 100 millions de dollars de revenus annuels d'ici 2025 grâce à des services HPC et à la conversion de l'infrastructure des centres de données.
HIVE Digital Technologies hat eine Investition von 30 Millionen Dollar in NVIDIA-GPU-Cluster für KI und Hochleistungsrechnen in Quebec angekündigt. Der Einsatz umfasst einen 248 GPU H100-Cluster, der bis Ende 2024 betriebsbereit sein soll und voraussichtlich jährlich etwa 15 Millionen Dollar Umsatz generieren wird, sowie einen 508 GPU H200-Cluster, der im Januar 2025 ankommt und im zweiten Quartal 2025 über 20 Millionen Dollar an jährlich projiziertem Umsatz beitragen soll.
Die in Quebec ansässigen Cluster, die mit 100 % erneuerbarer Energie betrieben werden, unterstützen KI-Computing-Dienste, einschließlich Modellentwicklung, Echtzeitanalysen und generative KI-Lösungen. Das Unternehmen betont, dass das Umsatzpotenzial von 10 MW HPC NVIDIA-Chips zur Deckung der KI-Nachfrage dem von 100 MW Bitcoin-Mining entspricht, was eine strategische Diversifizierung des Geschäftsmodells von HIVE darstellt.
Das HPC-Geschäft von HIVE erreichte im Oktober-November 2024 einen jährlichen Umsatz von etwa 10 Millionen Dollar mit dem Ziel, bis 2025 100 Millionen Dollar an Jahresumsatz durch HPC-Dienste und die Umstellung der Rechenzentrumsinfrastruktur zu erreichen.
- None.
- None.
This news release constitutes a "designated news release" for the purposes of the Company's prospectus supplement dated October 3, 2024 to its short form base shelf prospectus dated September 11, 2024.
Vancouver, British Columbia--(Newsfile Corp. - December 24, 2024) - HIVE Digital Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: YO0) (the "Company" or "HIVE"), a global leader in sustainable blockchain infrastructure, proudly announces the acquisition and deployment of an additional cluster of cutting-edge NVIDIA H100 GPUs in the Canadian province of Quebec and the newest NVIDIA H200 GPUs, which have shipped to Quebec. This
Deployment Overview
- NVIDIA H100 cluster: Comprised of 248 GPUs in 32 nodes connected with Infiniband, this cluster has arrived on site in Quebec, has been fully configured and will be operational before the end of 2024. HIVE expects its total annualized run-rate revenue from the HPC business unit to reach approximately
$15 million in the next quarter once the H100 cluster is deployed for a customer.
- NVIDIA H200 cluster: Comprised of 508 GPUs in 64 nodes connected with Infiniband, this cluster has been shipped and is expected to arrive in Quebec in early January 2025, with installation and customer deployment planned for calendar Q1 2025. HIVE anticipates total annualized run-rate revenue from this unit to be over
$20 million once the H200 cluster is deployed with a customer in calendar Q2 2025. While this business requires much higher upfront infrastructure capital expenditure, it offers significantly higher margins than Bitcoin mining.
Riding the AI Wave: A Sustainable Path to Growth
HIVE's new supercomputing clusters will unlock new revenue opportunities while adhering to the Company's sustainability mission by leveraging
Key Highlights
- Expanding Revenue Opportunities:
HIVE anticipates when these clusters are deployed with customers, the HPC services annualized run-rate revenue will be over$20 million by calendar Q2 2025, focusing on high-margin cloud computing and AI model training services.
- Sustainability Leadership:
The Quebec-based clusters are powered by renewable energy, ensuring environmentally conscious operations alongside technological innovation.
- Rising AI Market Demand:
With AI adoption growing exponentially-illustrated by OpenAI's revenue surge from$1 billion to$6 billion -HIVE is well positioned to capitalize on the rapidly expanding HPC market for the AI super cycle.
Impact of HIVE's AI Clusters
For Businesses:
- Scalable Solutions: Businesses can leverage HIVE's cloud services for advanced AI computing without heavy upfront investment.
- Innovative Capabilities: HIVE's GPUs support AI model training, real-time analytics, and generative AI solutions, fostering competitive advantages for businesses.
For Society:
- Healthcare: Providing compute capable of accelerating discoveries in diagnostics, treatments, and personalized medicine.
- Education: Providing compute capable of advancing research and providing personalized learning tools powered by AI.
- Creative Industries: Providing compute capable of empowering creators to produce immersive virtual worlds, media, and high-quality graphics.
HIVE's Vision for the Future
Frank Holmes, HIVE's Executive Chairman, stated, "The deployment of our NVIDIA H100 and H200 GPU clusters represents a key progressive step in our HPC strategy and a notable evolution in our business model, as the revenue potential from just 10 MW of HPC NVIDIA chips serving global AI demand is comparable to that of 100 MW of Bitcoin mining."
Mr. Holmes continued, "This expansion highlights the strategic importance of diversifying into high-performance computing to capitalize on the booming AI market while maintaining our commitment to sustainability, innovation and Bitcoin mining for HIVE. As the global demand for AI-driven solutions grows, we are riding the wave with sustainable, high-performance infrastructure that supports industries and society while staying true to our environmental values."
Aydin Kilic, HIVE's President & CEO, added, "Over the past year, we have collaborated closely with NVIDIA and their OEM vendors, conducting thorough technical diligence. This partnership has enabled us to deepen our expertise in operating GPUs for AI compute applications, meeting the stringent uptime requirements for HPC and AI end-users. Notably, we successfully scaled operations to bring over 4,000 NVIDIA A-series cards online, alongside HIVE's initial purchase of 96 NVIDIA H100 GPUs a year ago."
"As a result, our HPC business reached approximately
Why Investors Should Take Notice
- Participation in the AI Revolution: HIVE is strategically positioned to benefit from the AI boom with its cutting-edge technology and green-powered infrastructure.
- Revenue Growth Potential: HIVE is targeting
$100 million in annual revenue by 2025 through its HPC services, and by converting existing Bitcoin mining sites into Tier 3 data center infrastructure.
- Sustainability Advantage: By utilizing renewable energy, HIVE balances profitability with environmental stewardship.
About HIVE Digital Technologies Ltd.
HIVE Digital Technologies Ltd. is a pioneering technology company advancing sustainable blockchain and AI infrastructure powered by green energy. As the first cryptocurrency miner to go public on the TSX Venture Exchange in 2017, HIVE has grown into a global leader in digital asset mining and HPC computing. With operations in Canada, Sweden, and soon Paraguay, HIVE continues to innovate while reducing its environmental footprint.
For more information, visit hivedigitaltech.com, or connect with us on:
X: https://x.com/HIVEDigitalTech
YouTube: https://www.youtube.com/@HIVEDigitalTech
Instagram: https://www.instagram.com/hivedigitaltechnologies/
LinkedIn: https://linkedin.com/company/hiveblockchain
On Behalf of HIVE Digital Technologies Ltd.
"Frank Holmes"
Executive Chairman
For further information, please contact:
Nathan Fast
Director of Marketing and Branding
Frank Holmes
Executive Chairman
Aydin Kilic
President & CEO
Tel: (604) 664-1078
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Forward-Looking Information
Except for the statements of historical fact, this news release contains "forward-looking information" within the meaning of the applicable Canadian and United States securities legislation and regulations that is based on expectations, estimates and projections as at the date of this news release. "Forward-looking information" in this news release includes but is not limited to: business goals and objectives of the Company; the acquisition, deployment and optimization of the mining fleet and equipment; the continued viability of its existing Bitcoin mining operations; and other forward-looking information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.
Factors that could cause actual results to differ materially from those described in such forward looking information include, but are not limited to, the volatility of the digital currency market; the Company's ability to successfully mine digital currency; the Company may not be able to profitably liquidate its current digital currency inventory as required, or at all; a material decline in digital currency prices may have a significant negative impact on the Company's operations; the regulatory environment for cryptocurrency in Canada, the United States and the countries where our mining facilities are located; economic dependence on regulated terms of service and electricity rates; the speculative and competitive nature of the technology sector; dependency on continued growth in blockchain and cryptocurrency usage; lawsuits and other legal proceedings and challenges; government regulations; the global economic climate; dilution; future capital needs and uncertainty of additional financing, including the Company's ability to utilize the Company's ATM Program and the prices at which the Company may sell Common Shares in the ATM Program, as well as capital market conditions in general; risks relating to the strategy of maintaining and increasing Bitcoin holdings and the impact of depreciating Bitcoin prices on working capital; the competitive nature of the industry; currency exchange risks; the need for the Company to manage its planned growth and expansion; the effects of product development and need for continued technology change; the ability to maintain reliable and economical sources of power to run its cryptocurrency mining assets; the impact of energy curtailment or regulatory changes in the energy regimes in the jurisdictions in which the Company operates; protection of proprietary rights; the effect of government regulation and compliance on the Company and the industry; network security risks; the ability of the Company to maintain properly working systems; reliance on key personnel; global economic and financial market deterioration impeding access to capital or increasing the cost of capital; share dilution resulting from the ATM Program and from other equity issuances; the construction and operation of facilities may not occur as currently planned, or at all; expansion may not materialize as currently anticipated, or at all; the digital currency market; the ability to successfully mine digital currency; revenue may not increase as currently anticipated, or at all; it may not be possible to profitably liquidate the current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on operations; an increase in network difficulty may have a significant negative impact on operations; the volatility of digital currency prices; the anticipated growth and sustainability of electricity for the purposes of cryptocurrency mining in the applicable jurisdictions; the inability to maintain reliable and economical sources of power for the Company to operate cryptocurrency mining assets; the risks of an increase in the Company's electricity costs, cost of natural gas, changes in currency exchange rates, energy curtailment or regulatory changes in the energy regimes in the jurisdictions in which the Company operates and the adverse impact on the Company's profitability; the ability to complete current and future financings, any regulations or laws that will prevent the Company from operating its business; historical prices of digital currencies and the ability to mine digital currencies that will be consistent with historical prices; an inability to predict and counteract the effects of pandemics on the business of the Company, including but not limited to the effects of pandemics on the price of digital currencies, capital market conditions, restriction on labour and international travel and supply chains; and, the adoption or expansion of any regulation or law that will prevent the Company from operating its business, or make it more costly to do so; and other related risks as more fully set out in the Company's disclosure documents under the Company's filings at www.sec.gov/EDGAR and www.sedarplus.ca.
The forward-looking information in this news release reflects the Company's current expectations, assumptions, and/or beliefs based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company's objectives, goals or future plans, the timing thereof and related matters. The Company has also assumed that no significant events occur outside of the Company's normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance, and accordingly, undue reliance should not be put on such information due to its inherent uncertainty. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether because of new information, future events or otherwise, other than as required by law.
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FAQ
What is HIVE's total investment in new NVIDIA GPU clusters announced in December 2024?
How many GPUs are included in HIVE's new H100 and H200 clusters?
What is the expected revenue from HIVE's new GPU clusters in 2025?
How does HIVE's HPC revenue compare to Bitcoin mining operations?
What is HIVE's total revenue target for HPC services by 2025?
When will HIVE's new H200 GPU cluster become operational?
