HIVE Digital Technologies’ BUZZ HPC unit has signed a five-year AI cloud services contract worth about $350 million. The agreement will add roughly $70 million in annualized revenue and accelerate HIVE’s shift toward large-scale GPU infrastructure.
Key Takeaways
HIVE’s BUZZ HPC signed a 5-year, $350M AI cloud deal using 2,016 Nvidia Blackwell Ultra GPUs.HIVE says the deal lifts BUZZ HPC annualized revenue to $180M, accelerating the shift toward AI.HIVE targets $200M GPU cloud revenue by year-end, with 400MW able to support 120,000+ GPUs.HIVE Digital Technologies is deepening its push into artificial intelligence infrastructure, signing a five-year cloud services agreement that will deploy more than 2,000 Nvidia Blackwell Ultra GPUs in Canada.
That would lift BUZZ HPC’s total annualized revenue to about $180 million. Roughly $35 million is already active, while another $145 million is contracted and expected to come online through the fourth quarter of 2026. The customer was described as an investment-grade enterprise but was not identified.
Nvidia Cluster Targets Large-Scale AI WorkloadsBUZZ HPC will build a dedicated cluster using 2,016 Nvidia Blackwell Ultra GPUs in GB300 NVL72 systems. The deployment will also use Nvidia Quantum-X800 InfiniBand networking and VAST Data storage.
The infrastructure is designed to support large-scale AI training, inference, and other enterprise workloads.
The cluster is expected to begin operating later this year at Bell’s AI Fabric facility in Merritt, British Columbia. The site runs on renewable hydroelectric power and uses closed-loop liquid cooling, eliminating ongoing water consumption for cooling.
AI Revenue Becomes a Larger Part of HIVE’s StrategyHIVE will retain ownership of the Nvidia infrastructure after the contract ends, giving it the potential to extend the assets’ revenue-generating life. Once the cluster is fully deployed, HIVE expects its HPC and AI business to generate about $500,000 in daily revenue.
CEO Aydin Kilic said the agreement moves the company closer to its year-end target of $200 million in GPU cloud annualized revenue.
“The five-year term, expected stable cash flows from an investment-grade enterprise customer, and upfront deposit of approximately 10% of total contract value support an attractive economic and return profile,” Kilic said.
HIVE says it has about 400 megawatts of capacity in Canada available for Tier III data center development, potentially supporting more than 120,000 GPUs over the next two years.
