Hut 8 Launches GPU-as-a-Service Offering

Hut 8 announced Thursday that it has started generating revenue from its new GPU-as-a-service offering, which rents out GPU computing power to clients. The service supports high-performance tasks like AI processing and became fully operational with the launch of its first GPU system for an artificial intelligence cloud developer, as the bitcoin miner seeks strategic expansion beyond cryptocurrency mining.

Partnership and Infrastructure

Hut 8 (ticker HUT) has partnered with Hewlett Packard Enterprise and AdvizeX to design and launch a new computing cluster under its subsidiary, Highrise AI. This five-year partnership includes fixed infrastructure payments and a revenue-sharing agreement with the unnamed AI cloud developer.

The GPUaaS cluster is hosted at a tier-three data center in Chicago and comprises multiple HPE Cray supercomputers powered by 1,000 NVIDIA H100 GPUs.

CEO Statement

“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 Hut 8 CEO Asher Genoot. “Consistent with our commitment to disciplined capital allocation, we believe a thoughtfully structured AI compute business will be accretive both financially and strategically, driving topline growth, revenue diversification, and long-term value creation.”

Computing Clusters

As with mining clusters, a computing cluster is a group of interconnected computers, known as nodes, that work together to perform complex tasks as if they were a single system. These nodes are typically linked through a high-speed network and share computational workloads to process large amounts of data or execute high-performance applications more efficiently.

A GPU cluster consists of multiple computers with powerful graphics processing units (GPUs) collaborating to perform intensive computations like machine learning, AI modeling, or scientific simulations.

Future Expansion

As one of North America’s leading Bitcoin miners, Hut 8 is scaling its computing operations across energy-intensive technologies to enhance returns from its power assets and digital infrastructure. The company recently announced an expansion of its partnership with rig manufacturer Bitmain Technologies on a next-generation ASIC miner.

Back in June, Hut 8 entered into an agreement with a fund operated by Coatue Management to invest $150 million into the company through a convertible note. This move aims to leverage Hut 8’s ability to develop and operate complex energy infrastructure to address unmet demand and emerge as a leader in the AI infrastructure market.