started · updated
HIVE Digital Technologies signs $350M AI cloud services deal
HIVE Digital Technologies has signed a five-year GPU cloud services agreement valued at approximately $350 million through its subsidiary, BUZZ High Performance Computing (HPC). The deal involves an unnamed investment-grade enterprise customer and is expected to generate $70 million in annualized revenue, bringing BUZZ HPC’s total projected annualized revenue to roughly $180 million.
As part of the agreement, BUZZ HPC will deploy 2,016 Nvidia Blackwell Ultra GPUs in rack-scale systems at the Bell AI Fabric facility in Merritt, British Columbia. The infrastructure will utilize Nvidia Quantum-X800 InfiniBand networking and VAST Data storage to support AI model training and inference workloads. The project is expected to require approximately $185 million in capital expenditures, with the customer providing an upfront deposit of $35 million.
The deployment is anticipated to enter service during the fourth quarter of 2026. This move highlights a growing trend among Bitcoin miners to repurpose power capacity and data center expertise for high-performance computing and AI markets, providing more stable revenue streams compared to pure-play mining operations.
Entities
Alex Mashrabov · BUZZ High Performance Computing · Bell AI Fabric · Bell Canada · Blackwell Ultra · Bridgewater Associates · British Columbia · DST Global · Frank Holmes · Geely Auto Group · Goldman Sachs · HIVE Digital Technologies
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 2 SOURCES] The $350 million contract is with an unnamed investment-grade enterprise customer and is expected to add approximately $70 million in annualized revenue. bitcoinethereumnews.com
- [● 2 SOURCES] BUZZ HPC will deploy a cluster of 2,016 Nvidia Blackwell Ultra GPUs in Merritt, British Columbia. bitcoinethereumnews.com
- [○ 1 SOURCE] Core Scientific generated $136.7 million in colocation revenue in Q2, which was nearly five times its $27.5 million in bitcoin mining revenue.
- [● 2 SOURCES] The project requires approximately $185 million in capital expenditure. bitcoinethereumnews.com
- [○ 1 SOURCE] TeraWulf reported that HPC lease revenue reached $31.9 million, accounting for 71% of its total revenue.
- [● 2 SOURCES] HIVE Digital Technologies announced a five-year GPU cloud services agreement worth approximately $350 million through its BUZZ HPC subsidiary. bitcoinethereumnews.com