Hive Digital Technologies targets $1bn revenue with new $350m AI data centre deal
Hive Digital Technologies said a new five-year Buzz HPC contract for a Merritt, British Columbia data centre lifts contracted active ARR to about $180 million. The company plans to spend about $185 million to deploy 2,016 NVIDIA Blackwell Ultra GPUs expected to be operational in Q4, with run-rate rising from over $3m/month toward $20-$30m, then $50m. Hive targets $1bn revenue, including $300m AI data-centre and $300m AI Gigafactory goals.
How this was made
The 30-second read
Why it matters
The disclosed five-year agreement increases contracted active ARR to about $180M and ties new capex deployment (about $185M) to a Q4 operational milestone for 2,016 Blackwell Ultra GPUs, with a stated monthly run-rate ramp.
Market read
Traders can update Hive’s AI revenue ramp expectations using the contract’s ARR figure, capex amount, GPU count, and Q4 operational timing.
What to watch
Financing details are described at a high level (lenders against GPU assets), but traders may need to assess covenant risk, cost of capital, and whether Bell Canada partnership terms materially de-risk revenue collection.
Background
Hive is building AI data-center capacity via its Buzz HPC division and also targets revenue from Bitcoin mining and an AI “Gigafactory” initiative.
Ticker impact
Hive Digital Technologies signed a new five-year Buzz HPC agreement, targeting $180M contracted active ARR and $350M AI data-center revenue.
Likely positive near-term sentiment as investors price in higher AI data-center revenue ramp and clearer contracted ARR.
The article provides specific contract duration, ARR magnitude, capex deployment, GPU count, and an operational timeline (Q4), which are direct inputs to revenue ramp expectations.
Market effects
Supports the narrative that AI data-center buildouts are increasingly financed against GPU assets and backed by telecom partnerships.
Highlights Canadian hydro-powered compute siting near Vancouver, which may attract further AI infrastructure interest in the region.
Reinforces ongoing global demand for high-end GPUs (Blackwell) and long-duration AI compute capacity contracting.
Counterpoint
The run-rate targets ($20-$30M, ultimately $50M per month) are management expectations and may be sensitive to GPU availability, utilization, and customer demand.
Key entities
- companyHive Digital Technologies Ltd
Subject of the article; announces a new five-year Buzz HPC agreement and AI data-center buildout targets.
- business_unitBuzz HPC
Hive’s contracted AI compute/data-center platform referenced in the agreement.
- partnerBell Canada
Strategic partnership backing the Merritt, British Columbia facility.
- technology_providerNVIDIA
Referenced via Blackwell Ultra GPUs and GPU economics comparisons.
