HIVE appoints Mark Volk as revenue chief as daily revenue exceeds $1 million

  • HIVE appointed Mark Volk as Senior Vice President, Revenue at BUZZ HPC to lead global AI-infrastructure sales.
  • HIVE reported more than $1 million in combined average daily revenue from Aug. 21 through Sept. 10; GPU cloud contributed about $100,000 daily and Bitcoin mining more than 90%.
  • HIVE mined about 12 Bitcoin daily, or roughly 2% of global production, and reported more than $600 million in GPU-cloud total contract value, which is not recognized revenue or guaranteed future revenue.

HIVE Digital Technologies appointed Mark Volk as Senior Vice President, Revenue at its BUZZ High Performance Computing subsidiary to lead global sales of AI infrastructure. Volk brings nearly 30 years of experience commercializing artificial intelligence and high-performance computing, including roles at HPE, IBM and other technology firms. HIVE said its Bitcoin-mining and GPU-cloud businesses generated more than $1 million in combined average daily revenue from Aug. 21 through Sept. 10, with GPU cloud contributing about $100,000 a day and Bitcoin mining accounting for more than 90% of the total. HIVE also reported more than $600 million in year-to-date GPU-cloud total contract value, including signed agreements and letters of intent, while stressing that the figure is not recognized revenue and does not guarantee future revenue. The revenue figures are preliminary, unaudited management estimates affected by Bitcoin prices, network difficulty and operating conditions. HIVE said it mined about 12 Bitcoin per day, or roughly 2% of global production, and is evaluating whether to repurpose facilities contributing less than 5% of global daily revenue for high-performance computing.

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