HIVE Signs $350M AI Cloud Deal for NVIDIA Blackwell GPUs
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Key Takeaways
- The agreement adds $70 million in annualized revenue, bringing BUZZ HPC’s total contracted and active ARR to approximately $180 million.
- The infrastructure cluster will utilize 2,016 NVIDIA Blackwell Ultra GPUs and is expected to be operational at the Merritt, British Columbia facility by Q4 2026.
HIVE has signed a five-year, $350 million AI cloud contract with an investment-grade enterprise customer, adding another large GPU deployment as the bitcoin miner scales its high-performance computing business.
The agreement, signed through HIVE's wholly owned BUZZ High Performance Computing subsidiary, is expected to generate about $70 million in annualized revenue. HIVE said the deal lifts BUZZ HPC's total annualized revenue to roughly $180 million, including $35 million currently being realized and another $145 million of contracted revenue expected to come online through the fourth quarter.
Under the contract, BUZZ will deploy a dedicated cluster of 2,016 NVIDIA Blackwell Ultra GPUs using GB300 NVL72 rack-scale systems. The cluster will use NVIDIA Quantum-X800 InfiniBand networking and VAST Data storage and is expected to become operational later this year at Bell's AI Fabric facility in Merritt, British Columbia.
The deployment is expected to cost about $185 million, including the computing hardware and associated warranties. The customer will provide an upfront deposit of about $35 million, equivalent to 10% of the contract value.
