Decentralized GPU network platform Aethir brings in $36 million in first-year revenue

The decentralized GPU network platform Aethir reports that it brought in $36 million in revenue in the past year. 

Aethir pointed to artificial intelligence and gaming for its 10% month-over-month revenue growth for its platform-as-a-service offering, according to a release shared with The Block.

Moving forward, Aethir is preparing the mainnet launch of the Aether Network Protocol around the fourth quarter of this year. In addition, the firm is building infrastructure that lets users purchase computing power using its utility token ATH, which is slated to be ready by June 25.

"GPUs have become the backbone of modern computing, but not everyone can access it," Aethir Co-Founder and Head of Strategy Mark Rydon told The Block. "This limits innovation and creates systems of bias that prevent people from accessing and building new products and solutions using the latest technology. There are serious evolving needs across many industries that traditional cloud providers just can't serve. As AI and cloud computing continue to transform, we look forward to growing the pool of resources to democratize access to enable cutting-edge developments."

Aethir aims to cut the costs typical of single data centers by pooling GPU processing power from a vast network of computers. The firm previously raised $9 million in Pre-A funding in July 2023, netting the firm a $150 million valuation at the time, The Block previously reported. The firm's backers included Sanctor Capital, Hashkey, Merit Circle and CitizenX, along with Animoca Brands, Mirana Ventures and Maelstrom, an early-stage investment fund founded by Arthur Hayes.