DePin Startup Aethir Records $36 Million in Revenue

Aethir (ATH), a decentralized physical infrastructure network (DePin) startup focusing on GPU networks, announced an impressive revenue of $36 million this past year. This represents a significant 10% month-over-month growth.

Heightened demand for artificial intelligence (AI) and gaming for Aethir’s Platform-as-a-Service (PaaS) offerings drives the firm’s growth.

Aethir’s Price Struggles Despite Soaring Revenue

The company’s PaaS model is designed to enhance the development, testing, and deployment of GPU-accelerated applications. These are essential for AI, cloud gaming, and edge computing advancements.

As digital demand increases, the need for adaptable and scalable computing resources has become critical. Traditional GPU setups often suffer from high costs, scalability issues, and security risks. However, Aethir says its model deviates from this norm by adopting a distributed network structure.

Read more: What Is DePIN (Decentralized Physical Infrastructure Networks)?

This approach utilizes the combined GPU power of diverse devices, ranging from advanced servers to personal computers. Consequently, it establishes a powerful, flexible, and accessible pool of resources for GPU-heavy tasks.

Mark Rydon, co-founder and Head of Strategy at Aethir, emphasizes the importance of resource efficiency.

“Efficient resource distribution will be critical for driving innovation and scaling AI and cloud-based gaming and entertainment applications. This new milestone indicates the market’s need for more accessible computing resources and the ability for a decentralized, collective resource pool to deliver a more robust, flexible, and accessible infrastructure for GPU-intensive tasks,” Rydon told BeInCrypto.

Moreover, Aethir claims its solution is up to 60% more cost-effective than traditional services like Amazon Web Services (AWS).

Its advanced software layer provides seamless access to high-quality GPU computing. One notable example of its capability is TensorOpera AI, which used Aethir’s resources to train a sophisticated 750-million-parameter AI model over 30 consecutive days.

Despite these advancements, ATH’s price performance has struggled since its crypto exchange listing. After reaching a high of $0.14700 last month, the price has dropped by about 50%. Currently, it oscillates between $0.07738 and $0.06208.

Read more: Which Are the Best Altcoins To Invest in July 2024?

Aethir (ATH) Price Performance. Source TradingView

If ATH can break through the current resistance level, it might initiate a bullish trend. However, a failure to do so could lead to further declines. Meanwhile, crypto traders suggest observing ATH for a breakout or a breakdown from the consolidation.

“Good one to keep on the watchlist,” docXBT said.

Source