HIVE Tops $1 Million in Daily Revenue, Names BUZZ Sales Chief
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Key Takeaways
- Mark Volk appointed Senior Vice President of Revenue for BUZZ HPC to lead global AI infrastructure commercialization.
- HIVE's combined daily revenue from Bitcoin mining and GPU cloud services has surpassed $1 million.
- The company has secured over $600 million in GPU cloud service contracts year-to-date.
- HIVE plans to repurpose Swedish mining facilities for HPC and AI workloads to maximize infrastructure value.
HIVE Digital (NASDAQ: HIVE) Technologies said average daily revenue exceeded $1 million across its bitcoin mining and GPU cloud businesses, as the company appointed former Hewlett Packard Enterprise executive Mark Volk to lead revenue growth at its BUZZ high-performance computing subsidiary.
Since August 21, HIVE has produced about 12 bitcoin a day, while GPU cloud services have generated approximately $100,000 in daily revenue, according to a September 10 statement. The preliminary, unaudited estimates show mining still accounts for the bulk of revenue as HIVE expands its artificial intelligence infrastructure business.
Volk joins as senior vice president, revenue, reporting to BUZZ President and Chief Operating Officer Craig Tavares. He will oversee global sales strategy, partnerships and commercialization of GPU cloud, colocation and hybrid AI services for customers including businesses, governments and research institutions.
The appointment formalizes a relationship that began about nine months ago, when Volk started consulting for the company. He previously served as chief executive officer of CiphexAI and held leadership positions at HPE, IBM and Platform Computing, HIVE said.
