HIVE lands $350 million GPU cloud contract through BUZZ HPC

HIVE Digital Technologies has secured a $350 million, five-year AI cloud contract through BUZZ HPC, adding about $70 million in annualized revenue and expanding the unit’s contracted revenue pipeline.

The agreement takes BUZZ HPC’s total annualized revenue to approximately $180 million, comprising $35 million in active revenue and $145 million in contracted ARR expected to come online by the end of 2026. HIVE said the contract is with an investment-grade enterprise customer but did not identify the customer.

BUZZ HPC will build a 2,016-GPU cluster using NVIDIA Blackwell Ultra GPUs and GB300 NVL72 systems, with NVIDIA Quantum-X800 networking and VAST Data storage. The cluster is scheduled for deployment at HIVE’s Bell AI Fabric facility in Merritt, British Columbia, in the fourth quarter.

The deployment is expected to cost approximately $185 million. HIVE will receive a roughly $35 million upfront customer deposit and plans to use previously announced financing and equipment financing to support the build.

Once operational, HIVE expects its HPC and AI business to generate about $500,000 in daily revenue. The company will retain ownership of the GPU infrastructure, potentially allowing for additional cash flows after the five-year contract.