Blackwell · Nvidia · Bitcoin · United Kingdom · CryptoSlate
This Bitcoin miner just signed a $350 million AI deal, but it needs $185 million to make it work
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HIVE Digital Technologies’ $350 million AI cloud contract depends on a $185 million GPU buildout that must be completed in the fourth quarter before most of the revenue can begin.
Key facts
- HIVE Digital Technologies’ $350 million AI cloud contract depends on a $185 million GPU buildout that must be completed in the fourth quarter before most of the revenue can begin
- HIVE raised $130 million from zero-percent exchangeable senior notes in June and said it raised $245 million from zero-percent notes during the quarter
- The deal lifts BUZZ’s reported annual recurring revenue to about $180 million, but only around $35 million of that is currently active
- BUZZ plans to install 2,016 NVIDIA Blackwell Ultra GPUs in GB300 NVL72 systems at HIVE’s Bell AI Fabric facility in Merritt, British Columbia
Summary
01 HIVE signed a five-year, $350 million AI cloud contract requiring 2,016 Nvidia Blackwell Ultra GPUs at its British Columbia facility. 02 The deal could lift BUZZ’s annualized AI revenue to $180 million, but only about $35 million is currently active. 03 HIVE must fund and complete the $185 million buildout in fourth-quarter 2026, while financing availability and GPU commissioning remain undisclosed. The five-year agreement, signed by HIVE’s BUZZ High Performance Computing unit with an unnamed investment-grade enterprise customer, is expected to generate about $70 million in annualized revenue once the infrastructure is deployed.