HIVE's BUZZ HPC Signs $350M AI Cloud Deal with Investment-Grade Customer
HIVE sits 49% above its 52-week low of $1.73.
Summary
BUZZ HPC, a wholly owned subsidiary of HIVE Digital, signed a binding five-year GPU cloud services agreement worth approximately $350 million in total contract value with an investment-grade enterprise customer. The deal adds roughly $70 million in annualized revenue, bringing BUZZ HPC's total annualized revenue to about $180 million, with $145 million in contracted ARR expected to come online through Q4 2026. The customer will receive a dedicated AI infrastructure cluster of 2,016 NVIDIA Blackwell Ultra GPUs in GB300 NVL72 rack-scale systems, interconnected with Quantum-X800 InfiniBand and VAST Data storage, to be deployed at the Bell AI Fabric facility in Merritt, British Columbia. HIVE expects capital expenditures of approximately $185 million for the deployment, funded in part by a $35 million upfront deposit from the customer, along with previously announced financing initiatives and additional equipment financing. This follows the non-binding Letter of Intent announced on June 25, 2026, and represents a significant step in converting pipeline into contracted revenue. The contract provides long-term revenue visibility and positions BUZZ HPC as a growing player in sovereign AI infrastructure, with the cluster expected to be operational later this year and daily HPC/AI revenue projected to reach approximately $500,000 upon full deployment.
At the time of this announcement, HIVE was trading at $2.58 on NASDAQ in the Technology sector, with a market capitalization of approximately $736.1M. The 52-week trading range was $1.73 to $7.84. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: TMX Newsfile.