HIVE Digital Inks $350M AI Cloud Deal, Needs $185M to Make It Happen
HIVE Digital Technologies has signed a $350 million AI cloud contract with an unnamed enterprise customer. The five-year agreement, inked by HIVE's BUZZ High Performance Computing unit, is contingent on a $185 million GPU buildout at the company's Bell AI Fabric facility in Merritt, British Columbia.
The hardware installation involves 2,016 NVIDIA Blackwell Ultra GPUs in GB300 NVL72 systems. Deployment is targeted for Q4 2026, with revenue expected to start flowing after the infrastructure is up and running.
HIVE expects to generate about $70 million in annualized revenue once the contract is fully operational. The customer has agreed to provide an upfront deposit of roughly 10% of the contract value, or $35 million, which HIVE has not disclosed as received yet.