Bluebird Mining Ventures (LSE:BMV) announced it has signed a strategic framework agreement with PrimaLabs.AI, a US-based artificial intelligence inference specialist, to explore funding computing capacity for AI inference services in a deal representing an indicative capital opportunity of up to US$24 million.
The London-listed company, which has spent recent months repositioning away from direct mine ownership toward streaming, royalty and digital-asset exposure, framed the move as a potential extension of that "Harvesting" strategy into AI infrastructure.
Under the proposed structure, BMV would provide capital to Mainframe & Cybernetic Systems, known as FRAME, an affiliate of BMV, in exchange for the operating profits attributable to the computing capacity it supports.
FRAME would own and operate the infrastructure, while PrimaLabs supplies the inference software and commercial distribution.
The initial programme contemplates deployment of up to 240 Nvidia B300 GPUs, with BMV able to participate incrementally, from a single GPU up to the full programme, subject to separate agreements and board approval.
The underlying FRAME-PrimaLabs arrangements propose minimum capacity charges of US$2 per GPU-hour, equivalent to approximately US$4.2 million annually at full deployment, plus additional participation in inference revenues, though BMV stressed this figure relates to contemplated capacity charges rather than a revenue forecast for the company.
BMV intends to receive or convert its distributions into Bitcoin, continuing the treasury approach it has applied to its existing Bitcoin streaming operations.
The deal builds on a technology partnership between BMV and The BE Company announced on 9 January, whose other exploratory workstreams have now concluded in favour of this single commercial opportunity; BMV said no payments have been made or funds advanced to BE under either the original partnership or the new initiative.
"Our priority is to establish the commercial viability of the model through an initial deployment before committing further capital," said Sath Ganesarajah, chief executive of Bluebird Mining Ventures, adding that this would let the company assess "whether it offers a scalable opportunity for BMV."
BE is an affiliated entity in which BMV's chief executive has an interest, and FRAME is a subsidiary of BE, meaning any transaction between BMV and FRAME will be subject to independent board consideration and related-party requirements.