8/105 sources · 3 publishersUpdated Oct 28, 10:20 UTC
HIVE secures $129 million 9% loan to fund $165 million NVIDIA GPU cluster for Canadian AI contract
HIVE Digital Technologies announced a fixed‑rate credit facility of approximately $129 million at 9.0% interest for a three‑year term. The proceeds will purchase a $165 million NVIDIA GB200 NVL72 GPU cluster to support a three‑year sovereign AI contract with Cohere in Canada. The loan is secured by the GPUs and will be repaid from contract revenue, with delivery of the hardware expected by the end of Q4 2026.
Why it matters
The company says the non‑dilutive financing gives predictable cash flow and strengthens its position in Canada’s AI market. The fixed‑rate debt also differentiates HIVE from peers borrowing at variable rates.
Key facts
- 1The loan amount is approximately $129 million. tradingview.com
- 2The loan carries a fixed interest rate of 9.0% per annum. owensoundsuntimes.com
- 3The facility has a three‑year term with principal and interest amortizing over the life of the loan. owensoundsuntimes.com
- 4The financing will be used to purchase a $165 million NVIDIA GB200 NVL72 GPU cluster. owensoundsuntimes.com
- 5The loan‑to‑cost ratio is about 80%. owensoundsuntimes.com
- 6GPU delivery is expected toward the end of Q4 2026. stocktitan.net
Summary written by AlphAI AI Desk from 5 of 5 sources. Not investment advice. Figures are as stated by the linked sources.