{"id":172249,"date":"2024-09-26T15:55:39","date_gmt":"2024-09-26T15:55:39","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=172249"},"modified":"2024-09-26T15:55:43","modified_gmt":"2024-09-26T15:55:43","slug":"bitcoin-miner-hut-8-launches-new-ai-cloud-service","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/bitcoin-miner-hut-8-launches-new-ai-cloud-service\/","title":{"rendered":"Bitcoin Miner Hut 8 Launches New AI Cloud Service"},"content":{"rendered":"<p style=\"text-align: justify\">TL;DR<\/p>\n<ul>\n<li style=\"text-align: justify\">Hut 8 Corp., a Bitcoin mining company, <strong>has launched its new GPU-as-a-Service offering<\/strong>, starting to generate revenue with a GPU cluster.<\/li>\n<li style=\"text-align: justify\">This cluster, which <strong>utilizes 1,000 NVIDIA H100 GPUs and Hewlett Packard Enterprise Cray supercomputers<\/strong>, operates under Hut 8&#8217;s subsidiary Highrise AI.<\/li>\n<li style=\"text-align: justify\">The expansion into the artificial intelligence sector responds to<strong> a 243.2% increase in energy costs in Bitcoin mining.<\/strong><br \/>\n<hr \/>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify\"><strong>Hut 8 Corp<\/strong>., a recognized operator of energy infrastructure and one of North America&#8217;s <strong>largest <a href=\"https:\/\/crypto-economy.com\/ethereum-vs-bitcoin\/\" target=\"_blank\" rel=\"noopener\">Bitcoin<\/a> miners<\/strong>, <strong>has carried out the <a href=\"https:\/\/hut8.com\/2024\/09\/26\/hut-8-gpu-as-a-service-vertical-goes-live-with-inaugural-deployment\/\" target=\"_blank\" rel=\"noopener\">launch<\/a> of its new GPU-as-a-Service offering<\/strong>.<!--more--><\/p>\n<p style=\"text-align: justify\">This initiative has begun generating revenue through the implementation of <strong>a GPU cluster for an artificial intelligence cloud developer<\/strong>, marking a strategic shift in the direction of the company. The cluster is located in a tier-three data center in Chicago and is composed of <strong>Hewlett Packard Enterprise (HPE) Cray supercomputers powered by 1,000 NVIDIA H100 GPUs<\/strong>.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Our GPU-as-a-Service vertical is officially live following the deployment of our first cluster.<\/p>\n<p>\u201cThe launch of our GPU-as-a-service vertical further diversifies our compute layer, which now spans AI compute, Bitcoin mining, and traditional cloud services. Consistent with our\u2026 <a href=\"https:\/\/t.co\/jaC6Hu3WG2\" target=\"_blank\">pic.twitter.com\/jaC6Hu3WG2<\/a><\/p>\n<p>&mdash; Hut 8 (@Hut8Corp) <a href=\"https:\/\/twitter.com\/Hut8Corp\/status\/1839299703134949625?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">September 26, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p style=\"text-align: justify\">The collaboration with HPE and AdvizeX was crucial in the configuration and commissioning of this cluster, which now <strong>operates under Hut 8&#8217;s subsidiary<\/strong>, Highrise AI. The agreement established with the AI cloud developer lasts <strong>five years<\/strong> and includes not only fixed payments for infrastructure but also a <strong>revenue-sharing model<\/strong>, providing the mining company with a solid and sustainable financial base for its new offering.<\/p>\n<h2>The Bitcoin Challenge: Energy Costs Rose by 243%<\/h2>\n<p style=\"text-align: justify\">According to Asher Genoot, CEO of Hut 8, this launch aims to <strong>diversify the company\u2019s computing layer<\/strong>, which now encompasses AI computing, BTC mining, and cloud services. On the other hand, the company is committed to <strong>disciplined capital allocation<\/strong>. The expansion into the artificial intelligence sector is a response to the <strong>rising costs of <a href=\"https:\/\/crypto-economy.com\/the-6-best-bitcoin-wallets\/\" target=\"_blank\" rel=\"noopener\">Bitcoin<\/a> mining<\/strong>, which have seen a substantial increase over the past year, forcing many companies in the sector to <strong>reconsider their operational strategies<\/strong>.<\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-172251\" src=\"https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/09\/bitcoin-mining-post.jpg\" alt=\"bitcoin mining post\" width=\"825\" height=\"300\" srcset=\"https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/09\/bitcoin-mining-post.jpg 825w, https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/09\/bitcoin-mining-post-300x109.jpg 300w, https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/09\/bitcoin-mining-post-768x279.jpg 768w\" sizes=\"(max-width: 825px) 100vw, 825px\" \/><\/p>\n<p style=\"text-align: justify\">The cost of Bitcoin mining has nearly doubled in a year. Reports indicate <strong>a 243.2% increase in energy costs,<\/strong> making Hut 8\u2019s decision to pivot towards artificial intelligence unsurprising. Other companies in the industry, such as Core Scientific, have also begun exploring partnerships with AI developers, anticipating that <strong>a portion of Bitcoin miners&#8217; energy capacity will be redirected to this area in the coming years.<\/strong><\/p>\n<p style=\"text-align: justify\">However, industry experts warn that building advanced data centers <strong>can take up to three years<\/strong>, and some Bitcoin miners may underestimate the complexity of this transition. Nevertheless, Hut 8 aims to capitalize on the opportunities created between cryptocurrency mining and cloud computing<\/p>\n","protected":false},"excerpt":{"rendered":"<p>TL;DR Hut 8 Corp., a Bitcoin mining company, has launched its new GPU-as-a-Service offering, starting to generate revenue with a GPU cluster. This cluster, which utilizes 1,000 NVIDIA H100 GPUs and Hewlett Packard Enterprise Cray supercomputers, operates under Hut 8&#8217;s subsidiary Highrise AI. The expansion into the artificial intelligence sector responds to a 243.2% increase &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"Bitcoin Miner Hut 8 Launches New AI Cloud Service\" class=\"read-more button\" href=\"https:\/\/crypto-economy.com\/bitcoin-miner-hut-8-launches-new-ai-cloud-service\/#more-172249\" aria-label=\"More on Bitcoin Miner Hut 8 Launches New AI Cloud Service\">Read more<\/a><\/p>\n","protected":false},"author":34,"featured_media":172252,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[102,84,74],"tags":[4591,4602,4656,4765],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/172249"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=172249"}],"version-history":[{"count":1,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/172249\/revisions"}],"predecessor-version":[{"id":172253,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/172249\/revisions\/172253"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/172252"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=172249"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=172249"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=172249"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}