Mentioned:
Hut 8 became a leader in Bitcoin mining through rapid expansion. And now, they want to be on the leading edge of providing access to GPUs for artificial intelligence.
What’s happening:
- Hut 8 (NASDAQ: HUT) has deployed their first revenue generating GPU cluster to provide access to computing for artificial intelligence workloads
- The new cluster was designed and configured in partnership with Hewlett Packard Enterprise and technology infrastructure company AdvizeX
Why it matters:
- Hut 8 is one of the largest Bitcoin mining operators in North America and has recently been making moves to expand their infrastructure into high performance computing to capture the opportunity of artificial intelligence
Going deeper:
- The new cluster being deployed by Hut 8 is compromised of multiple Hewlett Packard Enterprise Cray supercomputers which are powered by a thousand Nvidia (NASDAQ: NVDA) H100 GPUs and will provide Hut 8 with an ongoing revenue sharing agreement
- Asset management giant Coatue previously put $150M USD into Hut 8 as a strategic investment to expand the capacity of their data centres for high performance computing and artificial intelligence cloud computing
The intrigue:
- The unrelenting demand for GPU access has even led Nvidia to recently begin making strategic investments of their own into data centra infrastructure companies, notably leading a $160M USD round into Applied Digital (NASDAQ: APLD)
