HIVE Digital secures $350 million five-year GPU cloud contract

HIVE Digital Technologies announced on Monday, August 17, 2026, that its subsidiary BUZZ High Performance Computing has secured a five-year, $350 million contract to provide GPU cloud services to an unnamed investment-grade enterprise customer. The deal, the company's largest artificial intelligence contract to date, is expected to generate approximately $70 million in annualized revenue and brings BUZZ HPC's total annualized recurring revenue to about $180 million.

The agreement marks the second major AI contract HIVE has signed in two months, following a three-year, $220 million sovereign AI cloud deal in June. The new contract will fund the deployment of a dedicated cluster of 2,016 NVIDIA Blackwell Ultra GPUs at the Bell AI Fabric facility in Merritt, British Columbia. The system, built in NVIDIA GB300 NVL72 rackscale systems with QuantumX800 InfiniBand networking and VAST Data storage, is expected to become operational in the fourth quarter of 2026. The facility is powered by renewable hydroelectric energy and uses closed-loop liquid cooling.

Capital expenditure for the deployment totals approximately $185 million. HIVE will fund the project through a combination of a $35...