Hut 8 GPU-as-a-Service Vertical Goes Live with Inaugural Deployment
Hut 8 Corp. (Nasdaq | TSX: HUT) has launched its GPU-as-a-service vertical, marking a significant expansion in its compute layer. The company has deployed 1,000 NVIDIA H100 GPUs for an AI cloud developer in a tier-three data center in Chicago. This cluster, comprising multiple Hewlett Packard Enterprise Cray supercomputers, was designed and configured in partnership with HPE and AdvizeX.
The five-year agreement with the AI cloud developer includes fixed infrastructure payments and revenue-sharing. This move diversifies Hut 8's compute offerings, which now encompass AI compute, Bitcoin mining, and traditional cloud services. CEO Asher Genoot emphasized that this strategic expansion aligns with the company's disciplined capital allocation approach and is expected to drive topline growth, revenue diversification, and long-term value creation.
Hut 8 Corp. (Nasdaq | TSX: HUT) ha lanciato il suo servizio di GPU-as-a-service, segnando un'importante espansione nel suo strato di calcolo. L'azienda ha implementato 1.000 GPU NVIDIA H100 per uno sviluppatore di cloud AI in un data center di livello tre a Chicago. Questo cluster, composto da più supercomputer Hewlett Packard Enterprise Cray, è stato progettato e configurato in collaborazione con HPE e AdvizeX.
L'accordo quinquennale con lo sviluppatore di cloud AI include pagamenti per infrastrutture fissi e condivisione dei ricavi. Questa mossa diversifica le offerte di calcolo di Hut 8, che ora comprendono calcolo AI, mining di Bitcoin e servizi cloud tradizionali. Il CEO Asher Genoot ha sottolineato che questa espansione strategica è in linea con l'approccio disciplinato dell'azienda nella allocazione del capitale e ci si aspetta che favorisca la crescita del fatturato, la diversificazione dei ricavi e la creazione di valore a lungo termine.
Hut 8 Corp. (Nasdaq | TSX: HUT) ha lanzado su vertical de GPU-as-a-service, marcando una expansión significativa en su capa de computación. La compañía ha desplegado 1,000 GPU NVIDIA H100 para un desarrollador de nube AI en un centro de datos de nivel tres en Chicago. Este clúster, que comprende múltiples supercomputadoras Hewlett Packard Enterprise Cray, fue diseñado y configurado en colaboración con HPE y AdvizeX.
El acuerdo de cinco años con el desarrollador de nube AI incluye pagos de infraestructura fijos y participación en los ingresos. Este movimiento diversifica las ofertas de computación de Hut 8, que ahora abarcan computación AI, minería de Bitcoin y servicios en la nube tradicionales. El CEO Asher Genoot enfatizó que esta expansión estratégica se alinea con el enfoque disciplinado de la empresa hacia la asignación de capital y se espera que impulse el crecimiento de la línea superior, la diversificación de ingresos y la creación de valor a largo plazo.
Hut 8 Corp. (Nasdaq | TSX: HUT)는 GPU-as-a-service 수직 서비스를 출시하며 계산 레이어의 중요한 확장을 알렸습니다. 이 회사는 시카고에 위치한 3계층 데이터 센터에서 AI 클라우드 개발자를 위해 1,000개의 NVIDIA H100 GPU를 배치했습니다. 이 클러스터는 여러 대의 Hewlett Packard Enterprise Cray 슈퍼컴퓨터로 구성되어 있으며, HPE 및 AdvizeX와 협력하여 설계 및 구성되었습니다.
AI 클라우드 개발자와의 5년 계약은 고정 인프라 지불 및 수익 공유를 포함합니다. 이 움직임은 Hut 8의 계산 제공을 다양화하며, 이제 AI 계산, 비트코인 채굴 및 전통적인 클라우드 서비스를 포함하고 있습니다. CEO Asher Genoot는 이번 전략적 확장이 회사의 자본 할당 접근 방식과 일치하며, 매출 성장, 수익 다각화 및 장기적인 가치 창출을 촉진할 것으로 기대된다고 강조했습니다.
Hut 8 Corp. (Nasdaq | TSX: HUT) a lancé sa vertical GPU-as-a-service, marquant une expansion significative de sa couche de calcul. L'entreprise a déployé 1.000 GPU NVIDIA H100 pour un développeur de cloud AI dans un centre de données de niveau trois à Chicago. Ce cluster, composé de plusieurs superordinateurs Hewlett Packard Enterprise Cray, a été conçu et configuré en partenariat avec HPE et AdvizeX.
Le contrat de cinq ans avec le développeur de cloud AI comprend des paiements d'infrastructure fixes et un partage des revenus. Cette initiative diversifie les offres de calcul de Hut 8, qui comprennent désormais le calcul AI, le minage de Bitcoin et les services cloud traditionnels. Le PDG Asher Genoot a souligné que cette expansion stratégique s'inscrit dans l'approche disciplinée de l'entreprise en matière d'allocation de capital et devrait favoriser la croissance des revenus, la diversification des recettes et la création de valeur à long terme.
Hut 8 Corp. (Nasdaq | TSX: HUT) hat seine GPU-as-a-Service-Sparte gestartet, was eine bedeutende Erweiterung seiner Compute-Ebene darstellt. Das Unternehmen hat 1.000 NVIDIA H100 GPUs für einen KI-Cloud-Entwickler in einem Rechenzentrum der dritten Ebene in Chicago bereitgestellt. Dieser Cluster, der aus mehreren Hewlett Packard Enterprise Cray Supercomputern besteht, wurde in Zusammenarbeit mit HPE und AdvizeX entworfen und konfiguriert.
Die fünfjährige Vereinbarung mit dem KI-Cloud-Entwickler umfasst feste Infrastrukturzahlungen und Umsatzbeteiligung. Dieser Schritt diversifiziert das Rechenangebot von Hut 8, das nun KI-Berechnungen, Bitcoin-Mining und traditionelle Cloud-Dienste umfasst. CEO Asher Genoot betonte, dass diese strategische Erweiterung mit dem disziplinierten Ansatz des Unternehmens zur Kapitalallokation vereinbar sei und voraussichtlich das Umsatzwachstum, die Diversifizierung der Einnahmen und die Schaffung von langfristigem Wert fördern wird.
- Launch of GPU-as-a-service vertical, diversifying revenue streams
- Deployment of 1,000 NVIDIA H100 GPUs for an AI cloud developer
- Five-year agreement with fixed payments and revenue-sharing
- Partnership with HPE and AdvizeX for high-performance computing solutions
- Potential for topline growth and long-term value creation
- None.
Insights
The launch of Hut 8's GPU-as-a-service vertical marks a significant milestone in the company's diversification strategy. By deploying 1,000 NVIDIA H100 GPUs for an AI cloud developer, Hut 8 is positioning itself at the forefront of the high-performance computing market. This move aligns with the growing demand for AI and machine learning capabilities.
The five-year agreement, which includes fixed infrastructure payments and revenue-sharing, provides a stable revenue stream and potential for upside. This business model could offer higher margins compared to traditional Bitcoin mining, potentially improving Hut 8's financial profile.
Partnering with industry leaders like HPE and AdvizeX adds credibility to Hut 8's offering and may help attract more clients in the future. The focus on energy-intensive technologies across various compute layers (AI, Bitcoin mining, cloud services) suggests a strategic approach to maximizing returns on power assets and digital infrastructure.
This development represents a significant diversification of Hut 8's revenue streams, potentially reducing its reliance on volatile Bitcoin mining income. The GPU-as-a-service model offers more predictable cash flows through fixed payments and adds a growth component with revenue-sharing.
While specific financial terms weren't disclosed, the capital-intensive nature of high-performance computing infrastructure suggests substantial upfront investments. Investors should monitor the impact on Hut 8's balance sheet and cash flow in the short term.
The move into AI compute aligns Hut 8 with high-growth tech sectors, which could lead to a re-rating of the stock if successful. However, competition in this space is intense and Hut 8 will need to demonstrate sustained client acquisition and profitability to justify long-term investor confidence.
1,000 NVIDIA H100 GPUs delivered to AI cloud developer
MIAMI, Sept. 26, 2024 (GLOBE NEWSWIRE) -- Hut 8 Corp. (Nasdaq | TSX: HUT) (“Hut 8” or the “Company”), a leading, vertically integrated operator of large-scale energy infrastructure and one of North America’s largest Bitcoin miners, today announced that its GPU-as-a-service vertical has begun generating revenue as the inaugural GPU cluster for an AI cloud developer comes fully online.
The cluster, hosted at a tier-three data center in Chicago, comprises multiple Hewlett Packard Enterprise (“HPE”) Cray supercomputers powered by 1,000 NVIDIA H100 GPUs. Hut 8 partnered with HPE and AdvizeX to design, configure, and commission the cluster, which is being launched under Hut 8's subsidiary, Highrise AI, Inc. Hut 8’s five-year agreement with the AI cloud developer provides for fixed infrastructure payments plus revenue-sharing.
“The launch of our GPU-as-a-service vertical further diversifies our compute layer, which now spans AI compute, Bitcoin mining, and traditional cloud services,” said Asher Genoot, CEO of Hut 8. “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.”
"We are thrilled to support the launch of Hut 8's GPU-as-a-service offering, in collaboration with our trusted partner AdvizeX, through the delivery of world-class high-performance computing solutions," said Jerome Boucher, Vice President and General Manager, HPC and AI Solutions, North America of HPE. "We look forward to extending our expertise in building the world’s fastest supercomputers to support Hut 8’s ambition to offer state-of-the-art GPU-as-a-service capabilities to its customers."
As part of its strategy to build a next-generation energy infrastructure platform, Hut 8 continues to scale its compute layer across energy-intensive technologies with the aim of maximizing returns on its portfolio of power assets and digital infrastructure.
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About Hut 8
Hut 8 Corp. is an energy infrastructure operator and Bitcoin miner with self-mining, hosting, managed services, and traditional data center operations across North America. Headquartered in Miami, Florida, Hut 8 Corp. has a portfolio comprising twenty sites: ten Bitcoin mining, hosting, and Managed Services sites in Alberta, New York, and Texas, five high performance computing data centers in British Columbia and Ontario, four power generation assets in Ontario, and one newly announced site in the Texas Panhandle. For more information, visit www.hut8.com and follow us on X (formerly known as Twitter) at @Hut8Corp.
Cautionary Note Regarding Forward-Looking Information
This press release includes “forward-looking information” and “forward-looking statements” within the meaning of Canadian securities laws and United States securities laws, respectively (collectively, “forward-looking information”). All information, other than statements of historical facts, included in this press release that address activities, events or developments that Hut 8 expects or anticipates will or may occur in the future, including such things as future business strategy, competitive strengths, goals, expansion and growth of the business, operations, plans and other such matters is forward-looking information. Forward-looking information is often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “allow”, “believe”, “estimate”, “expect”, “predict”, “can”, “might”, “potential”, “predict”, “is designed to”, “likely” or similar expressions. Specifically, such forward-looking information included in this press release includes statements relating to the Company’s belief that a thoughtfully structured AI compute business will be accretive both financially and strategically and drive topline growth, revenue diversification, and long-term value creation, its ambition to offer state-of-the-art GPU-as-a-service capabilities to its customers and its aim of maximizing returns on its portfolio of power assets and digital infrastructure.
Statements containing forward-looking information are not historical facts, but instead represent management's expectations, estimates and projections regarding future events based on certain material factors and assumptions at the time the statement was made. While considered reasonable by Hut 8 as of the date of this press release, such statements are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to, security and cybersecurity threats and hacks; malicious actors or botnet obtaining control of processing power on the Bitcoin network; further development and acceptance of the Bitcoin network; changes to Bitcoin mining difficulty; loss or destruction of private keys; increases in fees for recording transactions in the Blockchain; erroneous transactions; reliance on a limited number of key employees; reliance on third party mining pool service providers; regulatory changes; classification and tax changes; momentum pricing risk; fraud and failure related to digital asset exchanges; difficulty in obtaining banking services and financing; difficulty in obtaining insurance, permits and licenses; internet and power disruptions; geopolitical events; uncertainty in the development of cryptographic and algorithmic protocols; uncertainty about the acceptance or widespread use of digital assets; failure to anticipate technology innovations; the COVID19 pandemic, climate change; currency risk; lending risk and recovery of potential losses; litigation risk; business integration risk; changes in market demand; changes in network and infrastructure; system interruption; changes in leasing arrangements; failure to achieve intended benefits of power purchase agreements; potential for interrupted delivery, or suspension of the delivery, of energy to mining sites and other risks related to the digital asset mining and data center business. For a complete list of the factors that could affect Hut 8, please see the “Risk Factors” section of Hut 8’s Transition Report on Form 10-K, available under the Company’s EDGAR profile at www.sec.gov, and Hut 8’s other continuous disclosure documents which are available under the Company’s SEDAR+ profile at www.sedarplus.ca and EDGAR profile at www.sec.gov.
Hut 8 Corp. Investor Relations
Sue Ennis
ir@hut8.com
Hut 8 Corp. Media Relations
media@hut8.com
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