HIVE Digital Applied sciences, the publicly listed Bitcoin (BTC) miner (NASDAQ: HIVE) has introduced the appointment of Craig Tavares as President and Chief Working Officer of its Buzz HPC division, which focuses on GPU Cloud and Excessive-Efficiency Computing (HPC) providers
HIVE Faucets Ex-Apple Govt for Cloud Computing Enlargement
The appointment comes as HIVE, a sustainable blockchain and AI infrastructure supplier, goals to scale its HPC enterprise to $100 million in income. Tavares brings greater than 20 years of expertise in digital infrastructure and cloud providers to the function.
Frank Holmes, Govt Chairman of HIVE
“Along with his distinctive skillset of management, entrepreneurialism, and ethics, alongside his specific and tacit data of digital infrastructure, cloud, and high-performance computing, he’s a real champion of our imaginative and prescient,” stated Frank Holmes, Co-Founder and Govt Chairman of Buzz HPC, a HIVE Digital Applied sciences firm.
Tavares’s profession spans management roles at main know-how firms, together with Apple, the place he led product and program technique for third-party clouds and information facilities. His expertise contains launching a worldwide cloud enterprise at Aptum and establishing partnerships with trade giants Microsoft and Amazon Net Providers.
The choice follows the Wall Road-listed Bitcoin mining firm’s fourth-quarter earnings report, which confirmed $29.2 million in income and an adjusted EBITDA of $17.3 million. Though these figures are barely decrease than the earlier 12 months’s outcomes, the corporate has elevated its Bitcoin reserves, now holding 2,805 tokens price roughly $260.8 million.
AI and HPC Transfer
The brand new govt’s appointment aligns with HIVE’s technique to strengthen its place within the quickly evolving cloud computing market. The corporate at the moment operates a sovereign AI GPU platform powered by renewable vitality, which it plans to develop beneath Tavares’s management.
“Buzz already offers one of many trade’s highest-performance Sovereign AI GPU platforms,” Tavares stated. “We’ll develop it via vertically built-in infrastructure and a set of differentiated HPC service choices.”
HIVE is worked up to announce the appointment of Craig Tavares as President and Chief Working Officer of Buzz HPC, the place he’ll lead the GPU Cloud and Excessive-Efficiency Computing (HPC) information middle enterprise. ⬇️ pic.twitter.com/LrYeSBFQ8k
— HIVE Digital Applied sciences (@HIVEDigitalTech) February 18, 2025
In response to the latest evaluation from VanEck, the HPC transfer seen within the Bitcoin mining trade might unlock nearly $40 billion in worth for publicly traded miners.
Along with the appointment, HIVE introduced the granting of 1,090,000 Restricted Share Items (RSU) to pick out workers, officers, administrators, and consultants, together with Tavares. The RSUs are topic to a one-year vesting interval beneath TSX Enterprise Trade rules.
HIVE Digital Applied sciences additionally continues to develop its operations throughout Canada, Sweden, and shortly Paraguay, planning to develop its hash price to 25 EH/s by September.
