HIVE Digital signs five-year, $350 million AI cloud computing contract, accelerating its transition to GPU cloud business.

According to market data from BIT (bit.com), U.S. pre-market trading saw Bitcoin mining firm HIVE Digital jump 8.85%, with its stock priced at $2.93. HIVE Digital’s subsidiary BUZZ High Performance Computing (BUZZ HPC) announced the signing of a five-year GPU cloud services agreement, with a total contract value of roughly $350 million, translating to annual revenue of about $70 million. This marks HIVE’s second large GPU cluster deal in two months; upon completion, BUZZ HPC’s total annual revenue will hit approximately $180 million, including $35 million already realized and $145 million set to roll out gradually in the fourth quarter of 2026. The deployment will leverage NVIDIA’s reference architecture, building a dedicated cluster comprising 2,016 NVIDIA Blackwell Ultra GPUs, configured with GB300 NVL72 rack systems, Quantum-X800 InfiniBand networking, and VAST Data storage. The cluster is scheduled to launch later this year at Bell AI Fabric facilities in Merritt, British Columbia, which run on renewable hydroelectric power and closed-loop liquid cooling. The deployment requires around $185 million in capital expenditure. Once the cluster is delivered, HIVE forecasts daily revenue from its HPC/AI operations to reach roughly $500,000.