Bitcoin Miner HIVE Has a $350M AI Deal But Still Has to Deliver
Tl;DR
- HIVE signed a five-year AI cloud contract worth about $350 million, adding roughly $70 million in annualized revenue.
- Only $35 million of BUZZ HPC’s $180 million annualized revenue is active today; $145 million is contracted for deployment through Q4 2026.
- The new GPU cluster requires about $185 million in capital expenditure, partly supported by a planned $35 million customer deposit.
- Bitcoin mining generated $72.1 million of HIVE’s $79.1 million quarterly revenue, compared with $7.1 million from HPC.
HIVE has signed enough AI cloud business to put a clear number on its next growth engine. Its latest contract is worth about $350 million over five years. Yet the company’s next financial statements will still look largely like those of a Bitcoin miner.
HIVE’s high-performance computing unit, BUZZ HPC, generated $7.1 million in its latest reported quarter. Digital-currency mining generated $72.1 million. The new deal could narrow that gap, but first HIVE must build and bring the infrastructure online.
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