GPU cloud provider GMI Cloud has raised $82 million in a Series A funding round.

The round was led by Headline Asia, with participation from Thailand energy firm Banpu and Taiwan-based electronics company Wistron.

According to a report from TechCrunch, Banpu will provide power to GMI's operations, and Wistron plans to co-develop products with the startup.

The funding is a combination of equity and debt financing, with $15 million and $67 million respectively. The round brings GMI's total capital to more than $93 million.

Based in Silicon Valley, GMI Cloud will use the funding to open a new data center in Colorado. GMI has existing data centers in Thailand, Taiwan, and Malaysia.

The company's GPU cloud is based on Nvidia GPUs along with a Cluster Engine which is GMI's proprietary resource management and orchestration platform. According to the company's website, it currently offers access to H100 GPUs, with H200s now available for reservation.

"We're at a launching point in our company's journey," said Alex Yeh, founder and CEO of GMI Cloud. "We've seen the wide array of struggles for start-ups and large enterprises seeking to implement AI strategies. This funding empowers us to enhance the performance, security, and accessibility of our platform, helping businesses around the world scale even the most demanding AI workloads with confidence and efficiency."

GMI launched in 2022, originally as a data center servicing Bitcoin mining, however, the company has since pivoted to AI.

According to Yeh, GMI is the only Nvidia-certified cloud service provider in Taiwan under the NCP/NPN program which gives it significant supply chain advantages over regional competitors.

Other crypto-turned AI cloud providers include the likes of CoreWeave, Crusoe Energy, Hive Digital Technologies, Northern Data, Applied, Iris Energy, and others.