HIVE Digital Technologies Appoints Craig Tavares as President and COO of Buzz HPC

HIVE Digital Technologies, the publicly listed Bitcoin (BTC) miner (NASDAQ: HIVE), has announced the appointment of Craig Tavares as President and Chief Operating Officer of its Buzz HPC division, focusing on GPU Cloud and High-Performance Computing (HPC) services.

HIVE Taps Ex-Apple Executive for Cloud Computing Expansion

This appointment aligns with HIVE’s objective to scale its HPC business to $100 million in revenue. Tavares brings over two decades of experience in digital infrastructure and cloud services to the role.

Frank Holmes, Executive Chairman of HIVE, remarked, “With his unique skillset of leadership, entrepreneurialism, and ethics, alongside his explicit and tacit knowledge of digital infrastructure, cloud, and high-performance computing, he is a true champion of our vision.”

Tavares’s career includes leadership roles at major tech companies, including Apple, where he directed product and program strategy for third-party clouds and data centers. His experience also encompasses launching a global cloud business at Aptum and forming partnerships with industry leaders Microsoft and Amazon Web Services.

This decision comes after HIVE’s fourth-quarter earnings report, which indicated $29.2 million in revenue and an adjusted EBITDA of $17.3 million. Although these results slightly dipped compared to the previous year, the company has increased its Bitcoin reserves, now holding 2,805 tokens valued at approximately $260.8 million.

AI and HPC Move

Tavares’s appointment is part of HIVE’s strategy to bolster its presence in the fast-evolving cloud computing market. Currently, the company operates a renewable-powered sovereign AI GPU platform, which it plans to expand under Tavares’s leadership.

“Buzz already provides one of the industry’s highest-performance Sovereign AI GPU platforms,” Tavares stated. “We will expand it through vertically integrated infrastructure and a suite of differentiated HPC service offerings.”

> HIVE is excited to announce the appointment of Craig Tavares as President and Chief Operating Officer of Buzz HPC, where he will lead the GPU Cloud and High-Performance Computing (HPC) data center business. ⬇️ pic.twitter.com/LrYeSBFQ8k
> — HIVE Digital Technologies (@HIVEDigitalTech) February 18, 2025

According to recent analysis from VanEck, the HPC developments in the Bitcoin mining industry could unlock nearly $40 billion in value for publicly traded miners.

Alongside Tavares’s appointment, HIVE granted 1,090,000 Restricted Share Units (RSUs) to select employees, officers, directors, and consultants, including Tavares. The RSUs are subject to a one-year vesting period under TSX Venture Exchange regulations.

HIVE Digital Technologies is also expanding its operations across Canada, Sweden, and soon Paraguay, planning to elevate its hash rate to 25 EH/s by September.