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HIVE Digital Technologies Secures $180 Million in GPU Cloud Contracts
HIVE Digital Technologies has announced a significant shift towards AI cloud computing, reporting $180 million in contracted GPU cloud business. This includes a recent five-year agreement valued at approximately $350 million with an unnamed investment-grade enterprise customer, which is expected to enhance the company's annualized GPU cloud revenue to $180 million. Currently, $35 million of this revenue is already being generated, with an additional $145 million contracted but not yet operational, aiming for full deployment by the end of Q4 2026.
The new contract, facilitated through HIVE’s subsidiary BUZZ High Performance Computing Inc., will involve the deployment of 2,016 NVIDIA Blackwell Ultra GPUs at Bell AI Fabric’s facility in Merritt, British Columbia. Once operational, this deployment is projected to generate around $500,000 in daily revenue from high-performance computing and AI services, which is approximately two-thirds of HIVE's current daily earnings from Bitcoin mining, estimated at $750,000.
This recent agreement follows another substantial contract signed in June 2026, worth about $220 million with Bell AI Fabric and Cohere Inc. Together, these contracts represent over $500 million in GPU cloud revenue secured within a two-month period. HIVE's fiscal Q1 2027 results indicate a total revenue of $79.1 million, with BUZZ HPC contributing $7.1 million, marking a 47% year-over-year growth. The company anticipates that AI revenue will rise from 10% to 40% of total revenue by Q4 2026, reflecting its strategic pivot towards AI-driven services.
Source: KLEA News