Bitcoin miner HIVE inks five-year $350 million AI cloud contract, adds $70 million in annualized revenue
HIVE Digital Technologies said its BUZZ High Performance Computing unit signed a five-year, $350 million GPU cloud services contract with an unnamed investment-grade enterprise customer. HIVE expects about $70 million in annualized revenue and BUZZ HPC annualized revenue of about $180 million. The buildout will use 2,016 NVIDIA Blackwell Ultra GPUs and cost about $185 million, with delivery in Q4 2026.
How this was made
The 30-second read
Why it matters
The agreement is HIVE’s second large GPU cluster deal in two months and increases BUZZ HPC annualized revenue to about $180 million, with $35 million realized today and $145 million contracted through Q4 2026.
Market read
Traders can update HIVE’s AI compute revenue outlook using the quantified annualized revenue uplift and contracted ARR ramp schedule.
What to watch
Execution risk around the $185 million capex buildout, dependency on NVIDIA reference architecture deployment, and the pace of converting contracted ARR into realized revenue could temper the stock reaction.
Background
HIVE is expanding its AI business via BUZZ HPC, building GPU clusters at its Bell AI Fabric facility in Merritt, BC.
Ticker impact
HIVE’s BUZZ HPC signed a five-year, $350 million GPU cloud contract adding about $70 million in annualized revenue.
Likely positive bias for HIVE shares as traders price in incremental ARR and a larger AI compute backlog, with follow-through tied to the Q4 2026 go-live timeline.
The deal size ($350 million) and quantified annualized revenue uplift (~$70 million) are concrete, but the counterparty is unnamed and the revenue ramp is largely tied to delivery through Q4 2026, limiting immediate earnings impact.
Market effects
Reinforces the broader bitcoin-miner-to-AI-compute pivot, potentially supporting sentiment for other miners with GPU cloud/cluster deals.
Highlights Merritt, British Columbia as a renewable-powered AI compute site, which may attract additional capacity and partnerships.
Adds incremental demand for NVIDIA Blackwell Ultra GPU systems and related networking/storage infrastructure, supporting AI data-center capex narratives.
Counterpoint
Because the customer is unnamed and revenue is largely contracted to come online through Q4 2026, the near-term fundamental impact may be less than the headline implies.
Key entities
- companyHIVE Digital Technologies
Signed a five-year, $350 million GPU cloud services agreement via BUZZ High Performance Computing.
- subsidiaryBUZZ High Performance Computing
HIVE unit executing the GPU cloud contract and building the dedicated GPU cluster.
- technology_partnerNVIDIA
Supplies the NVIDIA Blackwell Ultra GPUs and GB300 NVL72 rack-scale systems referenced in the deployment.
- facilityBell AI Fabric (Merritt, British Columbia)
Renewable hydro-powered data center facility where the cluster is expected to go live later in 2026.
