HIVE Digital Technologies inks five-year, $350M GPU cloud agreement

HIVE Digital Technologies Ltd (TSX:HIVE, NASDAQ:HIVE, FRA:YO0, BVC:HIVECO) announced that it has signed a five-year GPU cloud services agreement with an investment-grade enterprise customer valued at approximately $350 million, as the company expands its artificial intelligence infrastructure business through wholly owned subsidiary BUZZ High Performance Computing.

The agreement is expected to generate approximately $70 million in annualized revenue and brings BUZZ HPC's total annualized revenue to about $180 million. That figure includes approximately $35 million in active, realized annualized revenue and $145 million in contracted revenue expected to come online through the fourth quarter of 2026.

Under the agreement, BUZZ HPC will deploy a dedicated AI infrastructure cluster comprising 2,016 NVIDIA Blackwell Ultra GPUs in NVIDIA GB300 NVL72 rack-scale systems. The cluster will use NVIDIA Quantum-X800 InfiniBand networking and VAST Data's high-performance storage platform and is being designed to support large-scale AI training, inference and other enterprise workloads.

The cluster is expected to become operational later this year at the Bell AI Fabric facility in Merritt, British Columbia. HIVE expects the NVIDIA infrastructure to be delivered and deployed during the fourth quarter, at which point the company's HPC and AI daily revenue is expected to reach approximately $500,000.