Aethir, a decentralized cloud infrastructure platform, managed $36 million in annual recurring revenue (ARR) this past year.
Unlike total revenue, annual recurring revenue shows only subscription-based revenue. ARR is crucial for Software as a service (SaaS) companies. The DePIN startup, which is closing in on its product mainnet deployment, says it will convert the revenue into its native utility token ATH.
Aethir growth amid spike in GPU-as-a-service market
In a blog post on Tuesday, the Aethir team pointed to the platform’s rapid growth amid demand for its decentralized cloud infrastructure across artificial intelligence (AI) and gaming. Revenue from its products hit $36 million, the platform said.
— Aethir (@AethirCloud) July 16, 2024Unveiling 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
The startup says its targeting further traction as demand ramps up, with key sectors it can penetrate presenting a total addressable market (TAM) of over $30 billion. This goal has the Aethir team focused on delivering on the platform’s service models, including its Infrastructure as a Service (IaaS) clients seeking virtualized GPU instances.
There’s also the 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 clients seeking dedicated GPU hardware that’s ideal for intensive tasks such as large-scale simulations.
Aethir milestones
Aethir’s network went live on the Ethereum network on June 12, which followed a testnet launch that involved over 500,000 users. The startup’s node sale attracted support from Nvidia, HPE and Foxconn.
Meanwhile, the team has secured partnerships with Xsolla, Magic Eden and TensorOpera, an AI platform that leveraged Aethir’s distributed GPU power to train a 750-million parameter AI model over a 30-day period.
On Aethir, the native token ATH can be used in staking on Ethereum and for payments and network rewards on the Layer-2 network Arbitrum. ATH has a total supply of 42 billion tokens, and its price hovered around $0.0824 on Tuesday morning.