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 Growth
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 twenty 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 express 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 knowledge facilities. His expertise contains launching a worldwide cloud enterprise at Aptum and establishing partnerships with trade giants Microsoft and Amazon Net Companies.
The choice follows the Wall Avenue-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 government’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 below Tavares’s management.
“Buzz already gives one of many trade’s highest-performance Sovereign AI GPU platforms,” Tavares stated. “We’ll increase it by way of 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 response to the latest evaluation from VanEck, the HPC transfer seen within the Bitcoin mining trade could unlock virtually $40 billion in worth for publicly traded miners.
Along side 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 below TSX Enterprise Trade 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.
