HIVE Lands $350M Cloud Deal for BUZZ HPC Unit

HIVE Digital Technologies has secured a major cloud deal worth approximately $350 million for its BUZZ High Performance Computing (HPC) unit. The five-year contract is with an unnamed investment-grade enterprise, which will deploy 2,016 NVIDIA Blackwell Ultra GPUs at the Bell AI Fabric facility in British Columbia.

The deal adds about $70 million in annualized revenue to BUZZ HPC's total, lifting it to approximately $180 million. This includes $35 million already realized and $145 million under contract.

HIVE expects the new GPU cluster to generate around $500,000 in daily revenue once fully operational, which is expected later this year. The project carries about $185 million in capital spending, funded by a $35 million customer deposit, proceeds from HIVE's June 2026 zero-percent convertible bond, and equipment financing.

This deal follows a three-year, $220 million sovereign AI cloud agreement that BUZZ HPC signed in June. HIVE targets $200 million in GPU cloud annual recurring revenue by year-end.