Hut 8 launched a GPU-as-a-service business to leverage the growth potential of AI. The Bitcoin miner announced that it has partnered with Hewlett Packard Enterprise and AdvizeX to launch a 1,000 Nvidia H100 GPU cluster. Hut 8 is aiming for revenue diversification and long-term growth with this AI bet.
Hut 8, an energy infrastructure provider and top Bitcoin miner, announced that its GPU-as-a-service vertical is now live.
According to Hut 8's September 26 announcement, the GPU cluster consists of multiple HPE supercomputers, all equipped with 1,000 Nvidia H100 GPUs. The announcement is part of a partnership between Hewlett Packard Enterprise and information technology company AdvizeX.
Hut 8 focuses on promoting AI
According to a press release, Hut 8's subsidiary Highrise AI will host the GPU-as-a-service business and enter into a five-year agreement for revenue sharing and infrastructure payments.
The deal allows Hut 8 to further diversify its business to include computing layers across artificial intelligence, Bitcoin mining and cloud services.
“Consistent with our commitment to disciplined capital allocation, our carefully structured AI computing business is financially and strategically accretive, with top-line growth,” said Asher Genoot, chief executive officer of Hut 8. “We believe this will drive high growth, revenue diversification and long-term value creation.”
New next generation mining chip
The launch of Hut 8's new business area comes days after the miner announced the launch of U3S21EXPH, a new ASIC miner with direct liquid-to-chip cooling (DLC).
The miner has partnered with leading crypto mining chip manufacturer BITMAIN to develop this new ASIC mining chip. Hut 8 plans to roll out the new model in the second quarter of 2025 through hosted deployments of approximately 15 exahashes per second.
The initial deployment of 15 EH/s will push Hut 8's hashrate by about 81%, but miners expect to have the potential for 20 EH/s in self-mining.
