Aethir’s Annual Revenue Reaches $36 Million

The company Aethir, which is developing a decentralized GPU network, has announced that its revenue for the first year of operation amounted to $36 million.

Unveiling Aethir’s Core Business and Annual Revenue

Since our inception, Aethir has stood out with its unique proposition: creating enterprise-grade innovations through our Decentralized GPU Infrastructure. Through this product vision, we have garnered over USD $36 million in… pic.twitter.com/xhD0Dx7CEY

— Aethir (@AethirCloud) July 16, 2024

In the last month, the figure increased by 10% due to the AI boom.

According to The Block, Aethir’s valuation stands at $150 million.

The project aims to reduce costs typical of individual data centers by combining GPU computing power with a vast network of computers.

“There are significant emerging needs in many industries that traditional cloud providers simply cannot meet. As AI and cloud computing continue to transform, we anticipate an increase in the resource pool to democratize access to advanced developments,” commented Aethir co-founder Mark Raidon.

The team is preparing to launch the Aethir Network Protocol mainnet in the fourth quarter.

The company is creating infrastructure that allows stakeholders to purchase computing power using its ATH token. Its launch is expected by July 25.

Previously, Ethereum co-founder Vitalik Buterin lamented the low investment in Web3 infrastructure.

Earlier, researcher Emperor Osmo predicted that the DePIN sector will experience rapid growth as major companies like Amazon Web Services, Google Cloud, and Cloudflare require efficient scaling.

Prior to this, The Block noted a growing interest in DePIN as signs of a new growth cycle for digital assets.