Vancouver-based HIVE Digital Technologies has secured a five-year GPU cloud services agreement worth approximately US$350 million through its wholly owned subsidiary, BUZZ High Performance Computing.
The agreement with an undisclosed investment-grade enterprise customer is expected to add roughly US$70 million in annualized revenue. HIVE said the deal brings BUZZ HPC’s total annualized revenue to approximately US$180 million, including US$35 million in active revenue and US$145 million in contracted revenue expected to come online by the end of 2026.
Under the agreement, BUZZ HPC will deploy a dedicated AI infrastructure cluster featuring 2,016 NVIDIA Blackwell Ultra GPUs in GB300 NVL72 rack-scale systems. The deployment will also use NVIDIA Quantum-X800 InfiniBand networking and VAST Data’s high-performance storage platform.
The cluster is scheduled to begin operating later this year at the Bell AI Fabric facility in Merritt, B.C. According to HIVE’s announcement, the facility is powered entirely by renewable hydroelectricity and uses closed-loop liquid cooling that eliminates ongoing water consumption for cooling.
HIVE expects the deployment to require approximately US$185 million in capital expenditures. The customer will provide an upfront deposit equal to about 10 per cent of the contract’s value, or US$35 million, with additional funding expected to come from previously announced financing and equipment debt. HIVE will retain ownership of the NVIDIA infrastructure after deployment.
The contract moves the company closer to its stated year-end target of US$200 million in annualized revenue from its GPU cloud business.