Hut 8, a mining company, has announced the launch of a new service called GPU-as-a-service, providing computing power for high-performance tasks such as artificial intelligence (AI). This will allow AI companies to rent graphics processors for complex computations.

To develop and launch the new computing cluster, Hut 8 has partnered with Hewlett Packard Enterprise and AdvizeX. The cluster is managed by Hut 8’s subsidiary, Highrise AI, and is located in a data center in Chicago. It includes several HPE Cray supercomputers, consisting of 1,000 Nvidia H100 graphics processors.

Hut 8 CEO Asher Genut commented: “The launch of our GPU-as-a-service vertical further diversifies our computing segment, now covering artificial intelligence, Bitcoin mining, and traditional cloud services. The growth of AI computing will drive both financial and strategic growth, income diversification, and long-term value creation.”

Partnerships and Sector Investments

Experts from Bernstein highlight that mining companies are becoming attractive partners for AI companies by shifting their resources to the neural network sector. One such partnership is a 12-year agreement between Core Scientific and AI company CoreWeave, as well as a $150 million investment by Coatue Management in Hut 8, which have become catalysts for sector development.

The AI sector can generate 17-25 times more revenue per kilowatt-hour compared to Bitcoin mining — $0.17-0.2 versus $3-5, making the shift to AI computing strategically advantageous for mining companies.