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) companies
HIVE Faucets Ex-Apple Government 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 companies to the function.
Frank Holmes, Government Chairman of HIVE
“Along with his distinctive skillset of management, entrepreneurialism, and ethics, alongside his specific and tacit information of digital infrastructure, cloud, and high-performance computing, he’s a real champion of our imaginative and prescient,” mentioned Frank Holmes, Co-Founder and Government Chairman of Buzz HPC, a HIVE Digital Applied sciences firm.
Tavares’s profession spans management roles at main expertise corporations, together with Apple, the place he led product and program technique for third-party clouds and knowledge facilities. His expertise contains launching a world cloud enterprise at Aptum and establishing partnerships with business giants Microsoft and Amazon Internet Companies.
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 yr’s outcomes, the corporate has elevated its Bitcoin reserves, now holding 2,805 tokens value 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 presently operates a sovereign AI GPU platform powered by renewable vitality, which it plans to increase underneath Tavares’s management.
“Buzz already offers one of many business’s highest-performance Sovereign AI GPU platforms,” Tavares mentioned. “We’ll increase it by vertically built-in infrastructure and a collection of differentiated HPC service choices.”
HIVE is happy 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) knowledge middle enterprise. ⬇️ pic.twitter.com/LrYeSBFQ8k
— HIVE Digital Applied sciences (@HIVEDigitalTech) February 18, 2025
In accordance with the current evaluation from VanEck, the HPC transfer seen within the Bitcoin mining business might unlock nearly $40 billion in worth for publicly traded miners.
At the side of the appointment, HIVE introduced the granting of 1,090,000 Restricted Share Models (RSU) to pick staff, officers, administrators, and consultants, together with Tavares. The RSUs are topic to a one-year vesting interval underneath TSX Enterprise Alternate rules.
HIVE Digital Applied sciences additionally continues to increase its operations throughout Canada, Sweden, and shortly Paraguay, planning to increase its hash price to 25 EH/s by September.
