HIVE Digital Subsidiary Lands $350 Million GPU Cloud Deal

HIVE Digital Technologies' subsidiary BUZZ HPC has signed a massive $350 million deal to provide GPU cloud services for five years. The contract includes deploying 2,016 NVIDIA Blackwell Ultra GPUs at a facility in Merritt, British Columbia, and is expected to add around $70 million in annualized revenue.

The new agreement brings BUZZ HPC's total annualized revenue to roughly $180 million, with approximately $35 million currently active and the remaining $145 million set to come online through Q4 2026. The facility will run entirely on hydroelectric power and use closed-loop liquid cooling, eliminating ongoing water consumption.

HIVE Digital Technologies' stock rose about 8% in premarket trading Monday following the announcement, hitting $2.91. The company plans to fund the deal using proceeds from its June 2026 convertible bond and debt financing, with an upfront deposit of around 10% of the total contract value.