HIVE Digital Scores $350M GPU Cloud Deal, Eyes AI Growth

HIVE Digital has landed a significant five-year contract worth $350 million for its GPU cloud services, marking a major milestone in its AI strategy. The deal with an investment-grade corporate client will generate approximately $70 million in annual revenue and boost BUZZ HPC's annual recurring revenue to about $180 million.

The agreement is part of HIVE Digital's broader pivot from Bitcoin mining to AI cloud services, leveraging its existing infrastructure to generate more stable and recurring revenue streams. The company has been repurposing its power and data center capacity for high-performance computing, deploying a dedicated cluster of 2,016 Nvidia Blackwell Ultra GPUs that will come online in the fourth quarter of this year.

The deal reflects a growing trend among cryptocurrency miners to leverage their existing energy infrastructure and data center expertise for AI cloud services. HIVE's ability to secure a long-term, investment-grade client suggests confidence in its operational capabilities and the reliability of its planned infrastructure.