HIVE Signs $350M AI Deal for BUZZ HPC Unit

HIVE Digital Technologies has secured a significant deal for its BUZZ High Performance Computing (HPC) unit, signing a five-year cloud services contract worth about $350 million.

The agreement will deploy over 2,000 Nvidia Blackwell Ultra GPUs in Canada and add roughly $70 million in annualized revenue to HIVE's books. This would lift BUZZ HPC's total annualized revenue to around $180 million.

HIVE plans to fund the remaining deployment through previously announced financing and additional equipment debt, with an estimated total capital expenditure of about $185 million. The company expects its GPU cloud business to reach $200 million in annualized revenue by year-end.