Bluebird Mining Ventures Ltd (LSE:BMV) has entered into a strategic agreement with US-based artificial intelligence specialist PrimaLabs.AI to explore investments in AI computing infrastructure, with an initial programme covering up to 240 NVIDIA B300 graphics processing units (GPUs).
The proposed arrangement represents an indicative capital opportunity of up to $24 million and would allow Bluebird to participate in operating profits generated by AI inference services without directly owning or managing the computing infrastructure.
The agreement forms part of the company’s efforts to extend its existing streaming investment strategy beyond traditional mining and precious metals into AI computing capacity.
Bluebird emphasised that the agreement does not commit it to investing the full $24 million, or any other amount, with potential deployments dependent on further commercial assessments, approvals and definitive agreements.
Proposed Investment Covers Up to 240 NVIDIA B300 GPUs
Under the agreement, Bluebird may provide capital to Mainframe & Cybernetic Systems Limited (FRAME), an affiliated company responsible for procuring, hosting and operating the computing infrastructure.
PrimaLabs would supply the AI inference software, model-serving technology and commercial distribution capabilities required to deliver services to customers.
Bluebird’s proposed financial entitlement would comprise 100% of the operating profits attributable to the computing capacity it funds, after agreed costs and subject to final contractual terms.
The initial programme contemplates 240 NVIDIA B300 GPUs, with an indicative total investment opportunity of up to $24 million.
However, the company could participate on a smaller scale, potentially funding a single GPU before considering further investment.
This incremental approach is intended to allow Bluebird to evaluate commercial performance before committing additional capital.
Proposed Capacity Charges Could Reach $4.2 Million Annually
The indicative commercial arrangements between FRAME and PrimaLabs include minimum capacity charges of $2 per GPU-hour.
At full deployment of the proposed 240 GPUs, these charges would be equivalent to approximately $4.2 million annually.
The arrangements also contemplate additional participation in revenue generated from AI inference services.
Bluebird stressed that the $4.2 million figure relates to proposed capacity charges under the FRAME–PrimaLabs agreement and does not represent a revenue forecast for Bluebird itself.
Any returns received by the company would depend on the final profit-sharing agreements, GPU utilisation, customer revenues and associated operating costs.
The underlying commercial terms remain indicative and are subject to definitive documentation.
Bluebird Plans to Extend Streaming Strategy Into AI Infrastructure
The agreement represents a potential expansion of Bluebird’s Harvesting strategy into what the company describes as AI Harvesting.
Its existing investment approach focuses on providing capital in exchange for participation in future cash flows rather than directly operating the underlying assets.
Under the proposed AI model, Bluebird would finance computing capacity used to deliver commercial inference services and receive a share of the operating profits attributable to its investment.
The company intends to assess GPU utilisation, processing throughput, revenue generation, operating expenses and capital recovery through an initial deployment.
Chief Executive Officer Sath Ganesarajah said the proposed arrangement could provide exposure to AI infrastructure without requiring Bluebird to operate the equipment.
“AI inference presents a potential new opportunity for BMV to apply its Harvesting strategy. By funding computing capacity and participating in the operating profits it generates, we aim to gain exposure to this market without taking on direct responsibility for operating the infrastructure.
“Our priority is to establish the commercial viability of the model through an initial deployment before committing further capital. This will allow us to assess the returns it can generate and whether it offers a scalable opportunity for BMV.”
Bitcoin Settlement Forms Part of Proposed Structure
Bluebird intends to receive distributions in Bitcoin or convert proceeds from the proposed investment into the cryptocurrency.
The settlement arrangements would be subject to a separate agreement with FRAME and have not yet been finalised.
The approach would connect the potential AI computing investment with Bluebird’s broader treasury strategy.
However, the company has not announced any Bitcoin distributions arising from the proposed programme or confirmed that an initial investment has been completed.
Future returns would depend on the profitability of the computing capacity funded and the agreed distribution arrangements.
Related-Party Arrangements Require Independent Board Review
The proposed investment builds on Bluebird’s technology partnership with The BE Company (BE), announced on 9 January 2026.
Bluebird said other exploratory activities under that partnership have concluded, with the parties now concentrating on the AI inference opportunity.
BE is an affiliated entity in which Bluebird’s Chief Executive Officer has an interest, while FRAME is a subsidiary of BE.
As a result, any transaction between Bluebird and FRAME will require independent Board consideration, commercial assessment and compliance with applicable related-party requirements.
Bluebird confirmed that it has not advanced funds or made payments to BE in connection with either the original technology partnership or the proposed AI inference initiative.
Individual investments and profit-sharing arrangements will require separate definitive agreements before capital can be deployed.
Bluebird Mining Ventures Outlook
The PrimaLabs agreement establishes a framework for Bluebird to explore participation in AI inference infrastructure through a streaming investment model.
The proposed programme covers up to 240 NVIDIA B300 GPUs and represents an indicative investment opportunity of $24 million, although no capital commitment has been made.
Bluebird’s immediate priority is to establish an initial deployment and evaluate its commercial performance, including utilisation, revenues, costs and potential investment returns.
Any subsequent expansion will depend on the results of that assessment, available capital, regulatory and corporate approvals, and final contractual arrangements.
The company said further announcements would be made when material capital commitments or deployments are agreed.
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