HIVE Lands $350M GPU Cloud Deal, Fueling $200M Annual Revenue Target
HIVE Digital Technologies has secured a massive five-year GPU cloud services agreement worth approximately $350M with an unnamed investment-grade enterprise customer. This deal, signed through HIVE's subsidiary BUZZ High Performance Computing Inc., is expected to add around $70M in annualized recurring revenue and push the company's total annualized GPU cloud revenue toward $180M.
The new contract involves deploying 2,016 NVIDIA Blackwell Ultra GPUs at Bell AI Fabric's facility in Merritt, British Columbia. Once deployed, it should generate approximately $500K in daily HPC and AI revenue, roughly two-thirds of what HIVE currently pulls in daily from Bitcoin mining.
This is the second massive deal signed by HIVE in just two months. In June 2026, the company signed a three-year contract valued at around $220M with Bell AI Fabric and Cohere Inc., representing over $500M in contracted GPU cloud revenue signed in a span of about 60 days.
HIVE's fiscal Q1 2027 results showed total revenue coming in at $79.1M, with BUZZ HPC contributing $7.1M, representing 47% year-over-year growth. The company expects AI revenue to increase from roughly 10% of total revenue to 40% by Q4 2026.