HIVE Signs $350 Million Five-Year AI Cloud Computing Contract

HIVE Digital Technologies' BUZZ High Performance Computing has signed a five-year GPU cloud service contract with an investment-grade corporate client, valued at approximately $350 million. This is expected to add about $70 million in annual revenue, increasing BUZZ HPC's annual revenue to approximately $180 million. BUZZ HPC will deploy 2,016 NVIDIA Blackwell Ultra GPUs at the Bell AI Fabric data center in Merritt, British Columbia, Canada, utilizing the GB300 NVL72 cabinet solution along with Quantum-X800 InfiniBand and VAST Data storage, with an expected launch later this year. The project's capital expenditure is approximately $185 million, partially supported by a client prepayment of about $35 million, zero-interest convertible bonds issued by HIVE in June, and equipment financing. HIVE retains ownership of the infrastructure, and it is expected that after the cluster is delivered in Q4 2026, daily revenue from HPC/AI will reach approximately $500,000.

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