Home›Crypto›Market Structure›HIVE signs $350 million GPU cloud deal, boosting annua…

HIVE signs $350 million GPU cloud deal, boosting annualized revenue

The BUZZ HPC agreement is expected to add about $70 million in annualized revenue and bring total BUZZ HPC annualized revenue to roughly $180 million, with deployment planned for later in 2026.

Reported · Written up by our desk · Market Structure

Bitcoin miner HIVE Digital Technologies has signed a five-year GPU cloud services agreement worth about $350 million through its BUZZ High Performance Computing subsidiary, as it expands its AI-focused business, according to The Block.

The deal is with an unnamed investment-grade enterprise customer and is expected to add roughly $70 million in annualized revenue. HIVE said BUZZ HPCs total annualized revenue would rise to about $180 million, split between $35 million already realized and $145 million expected to come online through the fourth quarter of 2026.

BUZZ HPC will build a dedicated cluster of 2,016 NVIDIA Blackwell Ultra GPUs in GB300 NVL72 rack-scale systems, using Quantum-X800 InfiniBand networking and VAST Data storage, based on NVIDIA reference architecture. The system is expected to go live later this year at the Bell AI Fabric facility in Merritt, British Columbia, which runs on renewable hydroelectric power and closed-loop liquid cooling.

HIVE said capital expenditure for the deployment is about $185 million, supported by a roughly $35 million upfront customer deposit equal to 10% of the contract value, proceeds from its June 2026 zero-percent convertible bond, and equipment financing. The company also stated it expects its HPC and AI daily revenue to reach about $500,000 once the cluster is delivered in the fourth quarter.

Latest closeBitcoin $63,624.36 ▲1.3%

More like this

Sources