Decentralized GPU startup Aethir reveals $36m in annual recurring revenue

Decentralized cloud infrastructure platform Aethir generated $36 million in annual recurring revenue (ARR) last year.

Unlike total revenue, annual recurring revenue only reflects subscription-based revenue. ARR is critical for Software as a Service (SaaS) companies. DePIN, the startup whose product is nearing mainnet deployment, says it will convert revenue into its native utility token ATH.

Aethir grows with the rise in the GPU-as-a-service market

In a blog post on Tuesday, the Aethir team pointed to the platform’s rapid growth amid rising demand for decentralized cloud infrastructure in the artificial intelligence (AI) and gaming space. The platform said revenue from its products has reached $36 million.

Explanation of Aethir’s Core Business and Annual Income

Since our founding, Aethir has stood out for its unique offering: creating enterprise-level innovations through our Decentralized GPU Infrastructure. Thanks to this product vision, we have raised over $36 million… picture.twitter.com/xhD0Dx7CEY

— Aethir (@AethirCloud) July 16, 2024

The startup says it aims to gain more traction as demand grows, with key verticals it could penetrate offering a total addressable market (TAM) of over $30 billion. This goal has led the Aethir team to focus on offering the platform’s service models, including Infrastructure as a Service (IaaS) customers looking for virtualized GPU instances.

There’s also a Platform as a Service (PaaS) offering that includes a suite of tools and services designed for GPU-accelerated applications. Meanwhile, the Bare Metal model is a service for customers looking for dedicated GPU hardware that’s ideal for intensive tasks like large-scale simulations.

Aethir milestones

Aethir’s network went live on the Ethereum network on June 12 following a testnet launch that included over 500,000 users. The startup’s node sale saw support from Nvidia, HPE, and Foxconn.

Meanwhile, the team has partnered with Xsolla, Magic Eden, and TensorOpera, an AI platform that trained a 750 million parameter AI model over a 30-day period by leveraging Aethir’s distributed GPU power.

Aethir’s native token ATH can be used for staking on Ethereum and for payments and network rewards on its Layer-2 network Arbitrum. ATH has a total supply of 42 billion tokens and its price was hovering around $0.0824 on Tuesday morning.