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▌$4 million financing participated by Hashkey and FBG Capital

▌Full-stack RWA layer for AI infrastructure

From a traditional perspective, GPUs are the core bottleneck of AI. But RAX sees a deeper dependency.

GPU clusters require a stable industrial-grade power supply.

The energy consumption cost of data centers accounts for 40-60% of operating expenses.

The right to access energy determines the ceiling for computing power expansion.

RAX is assetizing the entire AI vertical stack, from GPU chipsets to the energy that powers them, integrating into a unified RWA market.

However, RAX is actually an old project.

Founded in 2024, originally known as HashPower.

In June 2025, it secured $4 million in financing, with participation from Hashkey and FBG Capital.

Previously signed a $60 million MOU with Aethir.

The brand was rebranded to RAX, reflecting a fundamental upgrade in the business model.

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