Via marketbeat.com
HIVE Digital Technologies lands $350M GPU cloud contract, deploys 2,016 Nvidia Blackwell chips in Q4
A five-year deal with an unnamed enterprise client pushes HIVE's HPC subsidiary toward $180M in annualized revenue
HIVE Digital Technologies has secured a five-year GPU cloud services agreement worth approximately $350 million, deploying 2,016 Nvidia Blackwell Ultra GPUs at a facility in Merritt, British Columbia. The contract, announced through HIVE’s BUZZ HPC subsidiary, is expected to go live in Q4 2026 and generate around $500,000 in daily revenue once operational.
The unnamed customer is described as an investment-grade enterprise. The deal adds roughly $70 million in annualized recurring revenue to BUZZ HPC’s books.
What the numbers actually mean
Before this contract, BUZZ HPC had approximately $35 million in active realized ARR. Add the $145 million in contracted ARR this deal brings, and the subsidiary’s total annualized revenue run rate reaches around $180 million.
Management has set a GPU ARR growth target of approximately $200 million by the end of Q4 2026.
The capital expenditure tied to the deployment runs to approximately $185 million. A $35 million upfront deposit from the customer offsets a meaningful slice of that outlay.
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The specific hardware is Nvidia’s GB300 NVL72 rack-scale systems, part of the Blackwell Ultra generation. HIVE has previously deployed B200 and H200 clusters. Networking is handled by Nvidia Quantum-X800 InfiniBand. Storage comes from VAST Data.
The infrastructure behind the deal
The cluster is being housed at Bell AI Fabric’s facility in Merritt, BC. The entire operation runs on 100% renewable hydroelectric energy. Cooling is handled through closed-loop liquid cooling technology, which recirculates coolant without drawing on local water supplies continuously.
A company in transition, by design
HIVE built its reputation as a Bitcoin miner, and that business still runs in the background. The BUZZ HPC buildout represents a deliberate expansion into high-performance computing and AI cloud services, combining with Bitcoin mining as part of a dual-engine strategy. Recurring revenue contracts are valued differently than commodity-exposed revenue streams, and a five-year, $350 million contract with an investment-grade counterparty offers revenue visibility that mining cannot provide.
If the cluster slips from Q4 2026 into 2027, the $500,000 daily revenue projection and the $200 million ARR target both move with it.