HIVE Lands $350M AI Deal, Strategy Unloads MSTR Shares
Bitcoin miner HIVE Digital has landed a major five-year deal worth $350 million for GPU cloud services. The agreement, signed through its BUZZ HPC subsidiary, will bring in about $70 million in annualized revenue and increase BUZZ HPC's total to approximately $180 million.
The unnamed investment-grade enterprise customer will deploy 2,016 NVIDIA Blackwell Ultra GPUs at HIVE's Bell AI Fabric facility in British Columbia. HIVE expects to spend around $185 million on the deployment, which is partly funded by a $35 million customer deposit and equipment financing.
Meanwhile, Strategy has sold about $333.7 million in MSTR shares but didn't buy or sell any Bitcoin. The firm used part of the net proceeds to fund STRC dividends and bought back STRC preferred stock.